Corn rises on fears US yields could fall short of estimates

Chicago corn futures extended gains into a fourth session on Friday and were set for their first weekly gains in five weeks, as traders speculated that U.S. harvest yields may be lower than predicted. Soybean futures rose after data showing a much stronger than expected September soy crush. Wheat followed corn and soy higher, helped by short-covering after prices fell to five-year lows earlier in the week. All three contracts were lifted by a weakening of the U.S. dollar making U.S. exports cheaper for buyers with other currencies. Commodity funds have been net buyers of all three crops since Tuesday, traders say. The most-active corn contract on the Chicago Board of Trade (CBOT) rose 0.4% to $4.23-1/2 a bushel by 0601 GMT, up 2.5% from last Friday. CBOT soybeans climbed 0.2% to $10.13 a bushel and were set for a 0.6% weekly gain, while wheat was 0.3% higher at $5.03-3/4 a bushel and up 1.1% for the week. All three crops have fallen sharply since 2022 due to abundant supply. ...