Friday, June 22, 2007

Corn Heads for Biggest Weekly Drop in Two Years, Soybeans Fall After Rains

(Bloomberg) -- Corn fell to a two-week low in
Chicago, heading for the biggest weekly loss in two years, and
soybeans dropped as Midwest rains rejuvenate U.S. crops
stressed by dry weather.

As much as 2 inches (5 centimeters) of rain has fallen in
parts of the Midwest since yesterday, according to T-Storm
Weather. Fields from Minnesota to Ohio could receive triple the
normal rainfall over the next five days, the forecaster said.
Some areas east of the Mississippi River have gotten less than
half the normal rain in the past two months.


Read more at Bloomberg Commodities News

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