Cbot corn futures analysts noted CBOT corn futures have

Analysts noted CBOT corn futures have been hovering in a consolidation range between $4.75 and $4.88, suggesting a technical resistance near $4. Planting decisions that are usually finalized in winter help determine the production of corn and soybeans, the top two U.S. cash crops. The grains are primarily used for animal feed, cooking oils and renewable fuels. The U.S. is the world's largest corn exporter and the No. 2 soybean supplier after Brazil. Black Sea Wheat futures spurs new spread trading opportunities With CBOT corn futures near technical resistance levels, some commercial buyers are locking in forward contracts to hedge price risk. Industry insiders say end-users prefer securing supply now rather than risk further price spikes if export demand accelerates.