Markets

CBOT corn rises 1 pct on concerns about crop development

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Forecasts for hotter and drier weather in key growing areas in the next week sparked a round of buying.

The most actively traded corn contract has risen for seven sessions in a row, rising 12.9 percent during the streak.

It was the longest streak of positive closes for corn since a stretch of equivalent length in April 2016.

Analysts were expecting a US Department of Agriculture report on Wednesday afternoon to show that good-to-excellent ratings for the corn crop fell one percentage point in the latest week.

 

 

Copyright Reuters, 2017