Since four trading sessions in a row give the courses of the CBoT corn contract and thus sink to the lowest level for more than a month. In the U.S., rain fell widely growing regions and to improve the conditions for growth.
Stormy and rainy weather markets yesterday and now the U.S. corn belt dryness. The corn plants are there shortly before the critical pollination phase, which usually occurs mid-July in the Midwest. Therefore, market participants to closely monitor weather and respond to each rainfall each prediction.
The rainfall caused the holders of long positions in CBoT Maisfutures winding-up of financial instruments these days. And also reportable institutional investors pushed off their long positions to a great extent. Also the price rise was driven by fund companies, analyzed the broker Ole Houe in Sydney Australia. He believes that corn in the world price for that rather should be at the currently wide range 3.5 USD/bushel, especially since there is a big competition to the wheat.
