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U.S. Corn Ends Firm

Forecasts call for unwanted U.S. Midwest weekend rains

Content cornstalks

U.S. corn futures hit a six-week high on Wednesday on forecasts for rains in the Midwest crop belt that could signal further planting delays, but the market pared gains as the run-up in prices triggered a round of farmer selling, traders said.

According to a report from Reuters, wheat futures also ended nearly flat while soybeans closed higher. Wheat drew support from news that drought-hit Australia will import its first shipment of wheat in more than a decade from Canada.

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