Thursday, July 19, 2007

Corn Futures Decline as Widespread Rains May Boost Crops in U.S. Midwest

(Bloomberg) -- Corn futures declined for the third
day this week in Chicago after rains fell from Nebraska to Ohio,
easing the threat of damage to the largest U.S. crop after a two-
month dry spell.

The biggest storm of the summer dropped as much as 3 inches
(8 centimeters) of rain overnight in states including Iowa, the
largest corn grower, improving crops before drier conditions and
above-normal temperatures develop next week, said Mike Tannura, a
meteorologist for T-Storm Weather in Champaign, Illinois.


Read more at Bloomberg Commodities News

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