Dry weather in South America lifts corn prices
Economies.com
2020-10-22 21:34PM UTC
Corn prices rose on Thursday, on weak supply concerns due to dry weather in several South America, especially in Brazil and Argentina.
Weather agencies forecast dry weather in Brazil and Argentina for the next few weeks, which will impact the quality and supply of crops.
While the US Department of Agriculture revealed continued strong demand for soybean and corn from China, as shipments to Beijing and other destinations increased recently.
The dollar index rose against a basket of currencies by 0.3% to 92.8 points as of 22:22 GMT, after hitting a high of 92.9 and a low of 92.6.
Corn December futures rose 0.5% to $4.16 per bushel, after hitting a day high of $4.19, and a low of $4.110.
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