CHICAGO, Aug. 29 (Xinhua) -- Chicago Board of Trade (CBOT) corn futures traded moderately higher on Thursday morning as U.S. President Donald Trump promised measures concerning corn-based ethanol production.
"The farmers are going to be so happy when they see what we are doing for ethanol..." Trump tweeted.
He added that it will be a "giant package" to please U.S. corn farmers, who have become frustrated and angered by Trump administration's expanded waiver for oil refiners from obligations to blend ethanol into the fuel supply.
But Trump did not elaborate on the package and offered no time frame on twitter.
As of 1531 GMT, the most active corn contract for December delivery was up 1.5 cents to 4.725 U.S. dollars per bushel. December wheat was down 1.5 cents to 4.7375 dollars per bushel. November soybeans were up 5.5 cents to 8.7125 dollars per bushel. Enditem
