Corn continues rally on drought

Source: Bloomberg
Corn climbed to an all-time high amid belief that the U.S. Department of Agriculture will diminish yield estimates on Friday on the worst U.S. drought in more than fifty years, raising global food prices. Corn for December delivery gained 0.9% to $8.3075 per bushel. Economists expect the USDA may reduce its domestic corn-crop estimates to 10.929 billion bushels, the six-year low.

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