Corn Futures Rise on Degraded US Crop Conditions
Corn futures for December delivery increased by 2.3% to $5.08 1/2 a bushel on the Chicago Board of Trade. The rise was attributed to a significant decrease in U.S. corn crops reported to be in good or excellent condition by the USDA. Soybeans for November delivery also rose 1.9% to $13.04 3/4 a bushel.
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07:27:10 PM UTC
SquawkNews
By Karl PlumeUS corn futures jumped on Tuesday after the US Department of Agriculture announced a bigger-than-expected cut in its condition rating for the crop, which stoked worries that the agency would trim its yield outlook.Soybean futures also gained as harvesting was slowed by recent rains whi…
S. corn crops rated good or excellent fell sharply. 04 3/4 a bushel. Wheat for December delivery also rose.