Corn prices pick up on signs of higher demand

Corn prices pick up on signs of higher demand

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Corn futures are ending higher for the first time in seven days as traders see signs of higher demand for the grain.

Corn for July delivery rose 10 cents, or 2.2 percent, to settle at $4.59 a bushel Friday.

Corn has been falling steadily over the last month from a recent high of $5.17 a bushel on May 6.   Traders now anticipate that better growing conditions will lead to a larger crop than the market had been expecting.

Cash prices for corn also rose as demand picked up from commercial users such as ethanol makers and livestock farmers, said Brandon Marshall, a commodities analyst with Northstar Commodity in Minneapolis.

Wheat rose. Soybeans were flat.

Gold and silver fell. Oil rose.

The Associated Press

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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