June 2, according to foreign media reports, the Chicago Board of Trade (CBOT) corn futures market closed up and down on Thursday, with the benchmark period closing down by 0.25%, while other futures rose by 1.07% to 1.63%. . Traders said demand worries weighed on the July futures contract, while forward contracts closed higher due to U.S. weather problems.
The U.S. Drought Monitor reported that 66 percent of the Midwest was abnormally dry as of May 30, up from 27 percent the previous week.
In addition, the latest monthly drought outlook released Wednesday by the U.S. Climate Prediction Center shows possible drought in June in most of Iowa and Illinois, the two highest producing U.S. states for corn and soybeans, as well as Indiana, Ohio and Pennsylvania.
