CBOT corn rises on higher crude oil
CHICAGO, May 8 (Reuters) - Chicago Board of Trade corn futures turned higher on Friday as analysts monitored the ongoing U.S.-Iran war, with firmer crude oil prices also adding support.
Brent crude futures jumped as much as 3% on Friday, a day after the U.S. and Iran traded air strikes, but pared gains as traders hoped for a longer pause in the fighting that has shut shipping in the Strait of Hormuz. O/R
The U.S. said it expected an Iranian response as soon as later in the day on Friday to its latest proposal to end the war in the Gulf, even as U.S. and Iranian forces clashed in the Gulf and the United Arab Emirates came under renewed attack.
CBOT July corn CN26 settled 3-3/4 cents higher to $4.71-1/4 per bushel.
