(Bloomberg) -- Corn rose in Chicago to the highest
price in two weeks and soybeans extended a rally to a three-year
high on speculation unusually hot weather will damage crops in
the U.S., the biggest producer and exporter of both commodities.
Temperatures may reach 100 degrees Fahrenheit (38 Celsius)
west of the Mississippi River on fields already stressed after
receiving less than 25 percent of normal rain in the past 30
days, said Joel Widenor, a meteorologist for CropCast Services in
Rockville, Maryland. Most of the Midwest will be drier than
normal in the next two weeks as average temperatures rise as much
as 8 degrees Fahrenheit above normal, Widenor said.
Read more at Bloomberg Commodities News
price in two weeks and soybeans extended a rally to a three-year
high on speculation unusually hot weather will damage crops in
the U.S., the biggest producer and exporter of both commodities.
Temperatures may reach 100 degrees Fahrenheit (38 Celsius)
west of the Mississippi River on fields already stressed after
receiving less than 25 percent of normal rain in the past 30
days, said Joel Widenor, a meteorologist for CropCast Services in
Rockville, Maryland. Most of the Midwest will be drier than
normal in the next two weeks as average temperatures rise as much
as 8 degrees Fahrenheit above normal, Widenor said.
Read more at Bloomberg Commodities News
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