Thursday, June 21, 2007

Corn, Soybeans Fall in Chicago on Speculation Rain to Boost Midwest Crops

(Bloomberg) -- Corn and soybeans fell in Chicago on
speculation that rains forecast in the next three days will
replenish soil moisture in the eastern Midwest after two months of
hot, dry weather threatened crops.

Some fields from South Dakota to Indiana may get as much as 2
inches (5.1 centimeters) of rain before hot weather returns on June
24, said John Dee, president of Global Weather Monitoring in
Mohawk, Michigan. A second storm may bring more rain by June 29,
improving conditions for corn pollination and soybean flowering,
Dee said.


Read more at Bloomberg Commodities News

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