US corn futures close solidly higher on renewed supply concerns. The market bounced back after falling Tuesday on general selling of commodities.
Corn futures need to rise to slow strong demand and encourage US farmers to expand plantings this fall to replenish supplies, analysts say.
"You've got to buy the breaks because corn and soybeans are showing no signs of reduced demand," says Tim Hannagan, analyst for brokerage PFG Best. End-of-season corn supplies are projected at a 15-year low.
