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Commodities  |  June 07, 2011 14:23:21

Better weather in the U.S. this year to help finish a delayed planting

Good news has brought the American Institute for Agriculture. He confirmed that delayed planting of corn in the Midwest U.S. was almost caught up in the last week, when that territory prevailing favorable weather. This report has a positive impact on the price of agricultural commodities. To date, the farmers managed to plant in the U.S. over 94% of American corn. However, the previous five-year average for this date is 98%. The decline of agricultural commodities and, of course, has the global stock market slump.

This morning opened corn traded on the commodities market with the underlying futures contract on the Chicago Stock Exchange on the price of 732.98 USD/100 bushels (1 bushel of corn is about 25.4 kilograms).In recent hours, currently sells 100 bushels of corn at the price of $ 729.48. For today is expected to be rather quiet trading. It is likely that the price of this commodity will further weaken slightly.

Author: David Hasek (david.hasek @ xtb.cz)

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