Corn Finally Catches a Weather Break in the U.S.
- Crop conditions improve as weather warms in U.S. corn belt
- Hedge funds cut net-bullish bets first time in seven weeks
Water floods a cornfield in Malden, Illinois, May 2019.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
After a cold, soggy start to the summer, it’s finally feeling like summer in the U.S. Midwest, and corn fields are recovering.
A turn toward warmer weather should be beneficial for the battered crop, and government data signal that conditions are starting to bottom out. The changing weather also means that investors are tapping the brakes on their bullish bets after prices took a spectacular ride higher.