Monday, 21 May 2007

Soybeans Match Highest Closing Price Since June 2004 on Dry U.S. Weather

(Bloomberg) -- Soybean futures rose in Chicago,
matching the highest closing price since June 2004, on concern
that dry weather in the eastern Midwest will harm the second-
biggest U.S. crop.

Dry conditions that have created moderate to extreme
drought from Alabama to North Carolina may move west in the next
month, increasing stress on newly planted crops in Ohio and
elsewhere that are already short of moisture, said Drew Lerner,
president of World Weather Inc. in Kansas City, Kansas.


Read more at Bloomberg Commodities News

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