CBOT corn ends higher, following soybeans; US crop weather eyed
CHICAGO, June 5 (Reuters) - Chicago Board of Trade corn futures ended higher on Thursday, following soybeans on news that U.S. President Donald Trump and Chinese leader Xi Jinping held a rare leader-to-leader call to iron out trade disputes between the world's two largest economies, traders said.
CBOT July corn CN25 settled up 3/4 cent at $4.39-1/2 per bushel.
New-crop CBOT December corn CZ25 ended up 4-1/2 cents at $4.48-1/4.
Trump and Xi agreed to further discussions, according to U.S. and Chinese summaries of their call. China is by far the world's biggest soybean importer.
Some brokers noted support from forecasts calling for warmer and drier conditions in the U.S. Midwest in mid-June that potentially could stress developing corn and soybean crops.
The U.S. Department of Agriculture reported export sales of U.S. old-crop corn in the week ended May 29 at 942,300 metric tons, in line with trade expectations for 775,000 to 1,400,000 tons. Mexico and Japan were the top buyers.
However, the figure was down 31% from the prior four-week average, a possible sign of cooling demand for U.S. supplies as Brazil's second-crop corn harvest approaches. EXP/CORN
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