Tags: corn | crop | threatened | heat

Dry Skies Threaten US Corn Crop as Heat Wave Breaks

Sunday, 08 Jul 2012 08:42 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The withering U.S. corn crop is gaining some respite from a record heat wave this week but new weather forecasts on Sunday offered scant signs of the rainfall it urgently needs to avoid the worst drought damage in nearly a quarter century.

As the majority of a near-record-size U.S. corn area is now set to enter the key phase of pollination, a period when hot and dry conditions can cause irrevocable damage, the lack of moisture threatens to extend a rally that has already propelled corn prices more than a third higher since mid-June.

"It is dry across much of the Midwest and Plains and there is no relief in sight," said Alan Reppert, senior meteorologist at AccuWeather.com. He said the most affected areas were from Iowa to Illinois, the heart of the Corn Belt.

Chicago Board of Trade (CBOT) December futures jumped 2.5 percent to $7.10-1/2 per bushel in opening Sunday night trade, touching a new contract high and reversing Friday's losses. Wheat and soybeans rose more than 1 percent.

"The good news for this week is that temperatures are due to slip back from last week's record readings, the bad news is that all of the rain forecast is for the southern third of the nation," ABN Amro analyst Charlie Sernatinger said in a note to clients.

He said Nebraska and Kansas had seen some rain over the weekend, but the eastern Corn Belt was unlikely to have any showers until the middle of next week, according to extended forecasts.

The latest U.S. Drought Monitor report, released on Thursday, showed drought encompassing more of the contiguous United States than at any other time since the report began in January 2000.

The blistering heat has begun to ease, however, with a slow-moving front of cool air from Canada starting to push down temperatures on Sunday from Minneapolis to Detroit to Pittsburgh.

The temperature in Chicago, which had three consecutive days of triple-digit temperatures in the past week, was a pleasant 82 degrees Fahrenheit (25 C) early Sunday afternoon, according to the National Weather Service.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Stoners Get High on Love with Marijuana Dating Sites

Thursday, 18 Sep 2014 09:54 AM

Dinner and a movie make for a typical date night but dinner followed by a joint could raise some eyebrows or be a turn-o . . .

Police Trooper Killed in Ambush to be Laid to Rest

Thursday, 18 Sep 2014 09:47 AM

Hundreds of law enforcement officers from around the country are waiting silently outside a northeastern Pennsylvania ca . . .

Lanny Davis: Are Obama, Clinton Really 'Too Hawkish' for Dems?

Thursday, 18 Sep 2014 08:58 AM

Neither former Secretary of State Hillary Clinton nor President Barack Obama should be seen as "too hawkish" to be in li . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved