Wednesday, July 29, 2009

The Debts of the Spenders: Fungus Attacking US Corn Crop

In comparison to the bearish wheat picture, corn's prospects are improving after a heavy beating since early June.

Fungus Flourishing During Mild Summer, Attacking US Corn Crop

Periodic rains and mild temperatures, while providing what have been perceived as near-perfect growing conditions for crops, have also caused an explosion of disease in U.S. corn fields this summer, threatening to slice yields across the corn belt.

The moist, cool weather has kept corn plants from coming under stress during the yield-crucial pollination period, but Farm Futures market analyst Bryce Knorr pointed out that despite the favorable growing conditions, Monday’s U.S. Department of Agriculture crop progress report “showed corn conditions slipping around three-quarters of a bushel nationwide.”

Source: CME News For Tomorrow
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