CBOT corn finishes stronger on crude oil rally

CHICAGO, May 11 (Reuters) - Chicago Board of Trade corn futures ended stronger on Monday as firmer crude oil prices supported grain markets.

  • Oil prices climbed by more than 3% after U.S. President Donald Trump said the ceasefire with Iran was "on life support."

  • The U.S. Department of Agriculture is slated to issue an update on U.S. corn and soy planting progress later on Monday.

  • Analysts on average expected the USDA to report U.S. planting progress as 55% complete by May 10, up from 38% a week earlier, according to a Reuters survey. Estimates ranged from 48% to 60% complete.

  • On Tuesday, USDA is set to release global agricultural supply and demand estimates.

  • CBOT July corn CN26 ended 4 cents higher at $4.75-1/4 per bushel.


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