Corn prices near highs for year as traders wonder if crop will set yield record as predicted

Corn nears high prices for year on yield questions

Corn prices are nearing a level not seen since January as traders question whether the U.S. crop will meet record expectations.

Corn for December delivery settled up 5.5 cents at $4.415 a bushel Monday after hitting $4.45 a bushel earlier in the day.

There are some early indications that yields in some areas of the country may be lower than the government’s forecast of a record 165 bushels per acre. But no one will know for sure until the harvest is well under way.

In other trading, oil prices are down after consumer spending rose in July but not enough to bolster the economic recovery.