Corn rises in Chicago with support from demand

The corn futures market closed higher in the Chicago Mercantile Exchange, mainly supported by demand and technical factors that have been guiding trading in recent weeks. According to TF Agroeconômica, the most traded contracts registered a moderate advance, maintaining the positive bias observed recently. The March expiration closed with an appreciation of 0.73%, quoted at 450.50 cents per bushel, while the May contract rose 0.77%, ending the day at 458.50 cents. The performance reflects the strength of exports, which has been the main support for prices, although the market still operates within a sideways range observed since October. In recent sessions, corn reached new daily highs in five of the last six trading days, signaling a consistent bullish movement in the short term. In contrast, recent data from the Commitment of Traders report show that funds maintain a net short position close to 53,000 contracts, after significant sales in the week ending December 16, which ...