Wednesday, May 30, 2007

Corn, Soybeans Rally as Dry Weather Damages Fields in Southwestern U.S.

(Bloomberg) -- Corn rose the most in more than two
weeks in Chicago and soybeans gained after a government report
showed warm, dry weather was increasing drought stress on crops
from Arkansas to North Carolina.

Corn crop ratings fell in 10 of the top 18 producing states
as dry weather stunted early plant development in growing areas
outside of the Midwest, the U.S. Department of Agriculture said.
Dry soils also slowed soybean emergence and increased drought
stress in the southeast. Excessive rains have hurt crops in
Kansas and Missouri.


Read more at Bloomberg Commodities News

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