CBT CORN FUTURES CLOSE HIGHER ON FIRM NOTE
CBT corn futures closed on or near the
highs, up 1-1/4 to three cents per bushel, with May settling at
1.59-1/2 dlrs after posting a 1-1/2 cent range.
    Slow country movement, yesterday's sharp jump in the weekly
corn export figure to about three times last year's weekly
inspections, plus the outlook for a continued active export
pace due to the decline in the U.S. dollar this year, supported
nearbys, traders said.
    Many traders said they were mystified why Drexel Burnham
was such an aggressive buyer today in new crop December.
    Farmers will probably plant as many acres as allowed under
the government programs and near-record yields must be assumed
at this time because they will aggressively apply fertilizer to
prime yielding acres, one commercial trader noted.
 Reuter
