Corn Futures Decline Continues

Corn futures have fallen by some 29 percent since the close of markets on Friday, as the risk of hot dry weather in July, when the pollinating corn crop is at its most vulnerable, recedes day by day.

Markets are absorbing the fact that the U.S. Corn Belt weather outlook is not as threatening as it was last week.

“Forecasts for the bulk of the Corn Belt continue to point to beneficial moisture, some of which has already begun, through Thursday and more opportunities over the course of the next seven days,” said Brian Henry with Benson Quinn Commodities.

“The six- to 10- and eight- to 14-day forecasts indicate the better than average rain fall would be in southern areas, while the bulk of the Corn Belt expects normal temperatures,” he said. “That’s a good forecast as a good percentage of the crop moves into the pollination stage.”

Source: Agrimoney