January 21, 2007 / 4:22 PM / 11 years ago

CBOT March corn hits 10-year high

CHICAGO (Reuters) - Chicago Board of Trade March CH7 corn futures opened up the 20-cent-per-bushel trading limit to a 10-year high on Tuesday on follow-through from the release on Friday of bullish USDA crop production and stocks reports, traders said.

Corn prices rallied 5 percent at the open but the market sagged a bit from the opening levels as corn futures began trading after locking up the limit on Friday and again in the overnight e-cbot electronic trade. At 9:34 a.m. CST (1534 GMT), CBOT corn was up 18-3/4 cents per bushel to down 7 cents, with March CH7 up 18-3/4 at $4.15-1/4 per bushel.

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