Traders Send Grain ‘Over Chicago’ in Unusual Corn-Market Move
- High eastern prices drive rare corn shipments from the west
- Farmer sales likely to pick up next year: ADM, Pacific Ethanol
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The most-delayed U.S. corn harvest on record has divided the Midwest market, jumbling trade routes for the grain that usually flows south.
Signs of ample global supplies have weighed on Chicago futures, spurring farmers in eastern areas to hold back supplies in the hope of better prices. They were hurt more by a spring-time deluge than growers in the west.