Friday, June 22, 2007

Corn Has Biggest Weekly Drop Since 1997 on Midwest Rains; Soybeans Fall

(Bloomberg) -- Corn fell to a two-week low in
Chicago, capping the biggest weekly loss in almost 10 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 may receive triple the
normal rainfall during 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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