Tuesday, June 19, 2007

Corn, Soybeans Tumble on Speculation Rains in U.S. Midwest to Boost Crops

(Bloomberg) -- Corn in Chicago tumbled 4.7 percent,
the most in 11 weeks, and soybeans declined on forecasts for
Midwest rain that may add moisture to the soil and improve
prospects for recently seeded crops.

Parts of Ohio, Indiana and southern Illinois will get as
much as 1 inch (2.5 centimeters) of rain in the next 24 hours,
and rainfall will be above normal in the next 10 days,
Meteorlogix LLC said. Weather models show rain will fall in
Indiana and Ohio on June 22, Cropcast Ag Services said.


Read more at Bloomberg Commodities News

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