Tuesday, July 20, 2010

Corn Prices Continue to Fall on Good Weather Conditions

Corn prices continue to fall as cooler and wetter weather continues to hit the Midwest of the United States.

Hot, dry weather had been pushing prices of corn up on concerns there wouldn't be a weather change, but now that it has come, prices will go back to where they should be at in light of the potential harvest.

Wheat and soybeans also continue to fall, with wheat falling on the reality it won't be needed for feed substitute now that corn production looks better.

Corn futures for December delivery dropped 5.5 cents, or 1.4 percent, to $3.885 a bushel at 10:00 AM on the Chicago Board of Trade.

Forecasts for cool and wet weather continue on for the next several days, giving the region what it should need to generate a bountiful corn harvest.

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