Colosseum a.s. (Colosseum a.s.)
Commodities  |  July 26, 2012 15:49:28

Corn turned from a weekly low values ??back on the growth

ColosseumThe low level of almost weekly during yesterday reflected on the stock price of corn Chicago Board of Trade within the group CME. The market was reacting to speculation, by which rainfall predicted for some parts of the United States will not be sufficient to avert losses to crops caused by the worst drought in a generation. Precipitation is reported for areas in the states of Indiana, Ohio and some parts of the eastern Corn Belt. However, according to Christopher Narayanan, head of analytical department for agricultural commodities bank Societe Generale SA, might not be sufficient to improve the condition of corn in many places it may already be too late. Improvements could then bring only enough rain for the next two weeks, when the corn enters the last phase of its growth. Corn futures reached a record 23.7after the USDA reported that corn in the United States is located in the worst shape since 1988. Corn futures with delivery date in December reinforced the trading session yesterday on the Stock Exchange CBOT by 1.1% to the closing price of 788 cents per bushel.

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