Thursday, May 17, 2007

Corn Falls as Rains Forecast to Aid Midwest Plants; Soybeans Are Unchanged

(Bloomberg) -- Corn fell in Chicago as dry weather accelerated U.S. plantings before rains next week that may help seed germination and early growth. Soybeans erased earlier gains as soil moisture improved.

A storm system will bring as much as 1 inch (2.5 centimeters) of rain to almost 80 percent of the growing region in the Midwest on May 22, said John Dee, president of Global Weather Monitoring in Mohawk, Michigan. Unusually cold weather in the next two mornings probably won't hurt crops, Dee said.


Read more at Bloomberg Commodities News

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