Chicago Board of Trade corn futures rose to a 1-1/2 month high on Tuesday on forecasts for dry weather in the US Midwest and spillover support from sharply higher soybeans. CBOT September corn futures ended 5 cents higher at $3.72-1/4 per bushel, the highest closing price since June 14. New-crop December settled up 5-1/4 cents at $3.86-1/2 a bushel. Forecasts for a dry start to August supported prices. Much of the crop is in the kernel-filling stage of development, a time when dry conditions can drag down yield potential.
Comments
Comments are closed.