Monday, June 25, 2007

Corn Declines on Speculation Midwest Rains to Boost U.S. Crop Production

(Bloomberg) -- Corn fell to the lowest in more than
two weeks in Chicago on speculation that Midwest rains in the
past week revived plants and will boost production.

As much as 2 inches (5.1 centimeters) of rain fell in parts
of Iowa and Illinois in the past three days with most areas from
South Dakota to Indiana getting at least 0.5 inch, the National
Weather Service said. An additional inch may fall from Missouri
to Ohio in the next five days, the government forecaster said.
Corn, the biggest U.S. crop, tumbled 8.9 percent last week.


Read more at Bloomberg Commodities News

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