On June 8, according to media reports, the mt market of the CBOT corn futures market closed down, and the benchmark period closed down by about 0.60%, because the weather forecast showed that there may be rain in the main planting areas in the Midwest this weekend.
Most of the Corn Belt west of the Mississippi River will see some measurable rain Thursday through Sunday, while the east will remain relatively dry, according to NOAA’s latest 72-hour cumulative precipitation map.
The 8- to 14-day outlook forecasts show some rainfall is possible for parts of the Great Plains and Western Corn Belt between June 14 and June 20.
Traders continued to focus on weather conditions in the US Midwest.
Weather in the Corn Belt has been dry so far in June, and the weather pattern for the rest of the month will have a strong impact on price action.
