Positive China-US trade talks supports CBOT corn futures.

China’s continued draw on its corn stocks and its announcement late Thursday that it would end anti-dumping and countervailing duty measures against US sorghum have given hope it will return to US corn, sending futures to their highest levels in the last 23 months on May 18. The front-month CBOT corn futures contract rose 7.25 cents Friday to $4.0250/bu, its highest level since June 20, 2016, when it settled at $4.2125/bu. Sorghum is a small market compares to corn, but China’s trade peace offering brought hopes of better exports in US corn and other commodities