Wet weather conditions in the US which have created numerous problems for farmers this year helped push corn prices higher on wednesday.
Farmers have struggled against adverse weather this year to plant crops in key gorwing states. Now concerns have been raised the hopes that the corn crop from the spring season will not be bountiful enough to help ease global shortages.
Corn for July delivery rose by 1.2 percent on wednesday, or 9 cents to $7.4225 a bushel.
Telvent DTN analyst Darin Newsom said farmers need “almost picture-perfect” growing conditions for the U.S. crop to fulfill the market’s expectations.
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