Hedge funds grow more bullish on corn as surplus eases
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Chicago
THE glut of corn that's been plaguing growers in the US Midwest is finally starting to ease, and hedge funds are betting that will help spark a rally in prices.
US corn inventories are set to drop before the 2018 harvest as farmers curb plantings and demand stays robust, the US Department of Agriculture said on Friday. The decline would be the first since 2013 and signals that the four-year rout in prices could be over.
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