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13 Nov 2014
Corn futures gain for the fourth consecutive day
FXStreet (Mumbai) - Corn futures are up for a fourth day on speculation that a blast of cold weather shall boost demand for animal feed.
Corn for December delivery traded 1.58% higher at USD 3.8438/bushel at the time of writing. As per the National Weather Service An arctic air mass will push temperatures as low as 4 degree Celsius below normal in the northern and central U.S. this week. Thus, it is expected that ranchers will increase Corn and Soybean feed as the animals burn more energy to stay warm.
Corn Technical Levels
Corn has an immediate resistance at 3.9912, above which prices can rise to 4.00. Meanwhile, support is seen at 3.7625 and 3.71.
Corn for December delivery traded 1.58% higher at USD 3.8438/bushel at the time of writing. As per the National Weather Service An arctic air mass will push temperatures as low as 4 degree Celsius below normal in the northern and central U.S. this week. Thus, it is expected that ranchers will increase Corn and Soybean feed as the animals burn more energy to stay warm.
Corn Technical Levels
Corn has an immediate resistance at 3.9912, above which prices can rise to 4.00. Meanwhile, support is seen at 3.7625 and 3.71.