(Bloomberg) -- Corn may rise for a third straight
week in Chicago and soybeans may reach a three-year high on
speculation that hot, dry weather from Illinois to Georgia will
damage the two biggest U.S. crops.
Thirteen of 25 traders, farm advisers and merchants
surveyed on May 25 recommended buying both commodities. The rest
said to sell, noting that some forecasters are calling for more
rain. Corn futures for July delivery rose 1.3 percent last week
to $3.76 a bushel on the Chicago Board of Trade. Soybeans for
July delivery rose 2.5 percent to $8.125 a bushel, the highest
weekly close since June 2004.
Read more at Bloomberg Commodities News
week in Chicago and soybeans may reach a three-year high on
speculation that hot, dry weather from Illinois to Georgia will
damage the two biggest U.S. crops.
Thirteen of 25 traders, farm advisers and merchants
surveyed on May 25 recommended buying both commodities. The rest
said to sell, noting that some forecasters are calling for more
rain. Corn futures for July delivery rose 1.3 percent last week
to $3.76 a bushel on the Chicago Board of Trade. Soybeans for
July delivery rose 2.5 percent to $8.125 a bushel, the highest
weekly close since June 2004.
Read more at Bloomberg Commodities News
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