Corn Rises for Second Day as Dryness May Reduce Argentine Crop
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Corn rose for a second day in Chicago on speculation dry weather may hurt crop yields in Argentina, the world’s second-biggest exporter of the grain. Wheat advanced.
Central and southern areas of Argentina may see only a few light showers today and conditions might stay dry through Jan. 31, when temperatures may climb as high as 99 degrees Fahrenheit (37 degrees Celsius), forecaster DTN said today. Some regions might see some showers starting Feb. 1 before dryness returns Feb. 3. Argentina’s corn crop may total 26.5 million metric tons, the Rosario Grains Exchange said Jan. 24. That would miss the U.S. Department of Agriculture’s 28 million-ton forecast.