Argentina, the world's third-largest corn exporter, ended the temporary ban on grain exports and will instead set a daily sales limit to guarantee domestic supply.
The Buenos Aires Times reports the short-lived corn export ban had fueled concerns among local farmers and operators that Argentina is returning to an era of meddling in crop markets.
Benchmark Chicago corn futures rallied to a six-year high last week on concerns about tighter global grain supplies. Fields in Argentina have been threatened by drought in recent weeks, endangering corn and soybean crops at a time when demand is bolstered by heavy purchases from China.
