Corn extends gains on US supply doubts

Chicago corn futures extended gains into a fourth session on Friday and were set for a first weekly rise in a month as participants assessed reports of lower than expected U.S. harvest yields amid a lack of government data. Soybeans rose for a third day, also underpinned by brisk domestic demand that has tempered worries over U.S.-China tensions that have halted soybean trade between the two countries. Wheat tracked corn higher as it recovered from a five-year low this week. The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.6% at $4.24-1/4 a bushel at 1149 GMT, extending its recovery from a seven-week low struck on Tuesday. Over the week, it was up 2.7%, on course to break a run of four weekly losses. The ongoing U.S. corn harvest is widely forecast to set a production record. But with the U.S. Department of Agriculture postponing most crop data due to a government shutdown, traders have been focusing on signs that some yields are below previous ...