Corn futures at the Chicago Board of Trade were mixed early on Thursday in a volatile weather market, traders said. The potential for showers next week in the dry eastern Midwest and bomb blasts in London's transport system weighed on prices, traders said.
However, corn found underpinning amid scepticism that significant drought-relieving rains would surface in key US corn producer Illinois, they said.
At 10:31 am CDT (1531 GMT), CBOT corn was down 1-1/2 cents to up 1-1/2 cents. July was down 3/4 at $2.30 per bushel. New-crop December was down 1-1/2 at $2.49-1/2.
Pit sources said CIS and Tenco were noted buyers of corn while Iowa Grain sold 300 December.
Meteorlogix weather on Thursday said dry and hotter weather would evolve in the Midwest Thursday through the weekend. There was a potential for rainfall to move into the dry areas of the eastern Midwest early next week as a result of the impact of Hurricane Dennis. But Meteorlogix said the forecast was highly uncertain. Should rains miss the region, it would be a while before there is another chance of rain, Meteorlogix said.
Comments
Comments are closed.