Hot forecasts pushes corn futures higher

Corn futures hit limit-up levels earlier this morning before pit trading resumed.

John Hawkins

Published: Jun 25, 2012

Corn futures are trading higher Monday morning, boosted by forecasts for more hot and dry weather in the Midwest.

Forecasters predict hot temperatures and low chances of rain across the corn belt this week. Temperatures could reach 100 degrees later this week in areas including parts of Missouri and Illinois, according to the National Weather Service.

For this weekend and next week, the National Weather Service also forecasts above-average temperatures and below-average chances of rain across most of the Midwest. The Dakotas and Minnesota have above-average chances of rain for part of that period, and those regions have had sufficient rain in recent weeks, but a shift toward drier weather could still threaten crops there.

Farther south, key growing areas like southern Illinois and Indiana have faced worsening dry conditions for weeks.

Late last week, the NWS updated its seasonal drought outlook and the forecast is for drought conditions to intensify and expand across virtually all of the Midwest.

Permalink: Click here

Comments

Read comments from others and share your own thoughts.

Please provide the answer to the following question:

=

Search this site:

Read More Stories

Farmland prices moderate after incredible run

The drop in crop prices in recent months apparently took some steam out of the farmland market. We have comments from Chicago Fed economist David Oppedahl.

Read this story


Northern Illinois small grains program June 20

The event is co-sponsored by the Illinois Wheat Association and U of I Extension.

Read this story


Cash soybean basis levels fall for third day

Some soybean processors are beginning to price beans out to the August and November contracts.

Read this story

Farmland prices moderate after incredible run

Cash soybean basis levels fall for third day

Illinois farmers catch up on corn planting

Senators reject efforts Tuesday to change Senate farm bill

Rainy week ahead for Illinois farmers

Northern Illinois small grains program June 20

GMO foods may be topic at Chicago AMA meeting

IAITC adapting to meet new math, science, English standards

IEPA explains implementation of NPDES pesticide permits

Winter Wheat Forum next week

Top 50 Tags