By Commodity News Service Canada
Winnipeg, December 30 (CNS Canada) – Corn futures at the Chicago Board of Trade lost ground on the year, but closed higher on the last trading day of 2016.
Corn contracts gained between half a US cent and about two US cents per bushel on Friday.
The market shed close to 11 per cent in 2016, analysts say. A broadly stronger US dollar and reports of record-high stocks across the world pressured prices.
Export sales reported by the United States Department of Agriculture in the week ending December 22 totalled 958,600 metric tonnes for 2016/2017, and were down 23 per cent from the previous week and 24 per cent from the prior four-week average.
Chicago Mercantile Exchange live cattle futures moved to a six-month-high on Thursday, but handed back some gains on Friday. The market was underpinned by stronger cash values and colder, wetter weather, reports say.
