CBoT corn rates rise under the impression of the Derecho episodes

CBoT corn futures prices are rising to a one-month high this morning. The chart has been moving upwards for five out of six trading days because a large-scale storm in the US state of Iowa caused major damage to the fields and grain silos.
The extent of the damage is still a mystery. A hurricane-like storm (Derecho) raged on around 14 million acres. Originally there was talk of 10 million acres. The yield potential in the largest growing country for corn and soybeans in the USA is now estimated to be significantly lower.
In neighboring states like North Dakota and Nebraska it should be too dry.

Hansa Terminhandel GmbH
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