Thursday, 07 June 2007

Corn Rises on Speculation Unusually Hot, Dry Weather May Damage U.S. Crop

(Bloomberg) -- Corn rose in Chicago for the first
time in a week on speculation that unusually hot, dry weather
from Texas to Ohio will damage the crop in the U.S., the world's
largest grower and exporter.

Temperatures will jump as much as 6 degrees Fahrenheit
above normal the next two weeks and rains will be half their
normal amount, increasing stress for young corn plants, said
Dave Streit, a meteorologist for CropCast Services Inc. in
Rockville, Maryland. Abnormally dry conditions and pockets of
extreme drought already exist from Florida to Ohio.


Read more at Bloomberg Commodities News

1 comment:

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