Tuesday, 15 February 2011
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CBOT corn review: Closes above $7 on Mexico crop damage
U.S. corn futures extended their rally Friday, closing above $7 per bushel for the first time since July 2008 amid dwindling supplies and news that Mexico's crop has been damaged by a freeze. Corn for March delivery at the Chicago Board of Trade ended up 1.1% to $7.06 1/2, only the 19th time in history corn has closed above $7. Traders were expecting the market to pull back following a surge
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