iNVEZZ.com Thursday, July 25th: Grain futures were broadly lower today, with soybeans and corn tumbling to multi-week lows as rain and cool weather in the U.S. prompted optimism that production in the world’s biggest grower will surge record levels.
According to MDA Weather Services, an expected lack of heat across the U.S. Midwest growing region in the next two months will avoid “significant stress” for corn and soybeans. Scattered thunderstorms are forecast in the Midwest and no hot weather is expected during the next 10 days, favouring corn and soybeans, DTN weather services said in a report yesterday, adding to an accelerated production outlook for the soft commodities.
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