Bullish Corn Data PointCorn Prices Surge as Sizzling Heat Stresses Crops
Corn prices surged 4.4 percent Tuesday as sizzling heat stressed crops in four of the nation's top five producing states.
Corn for December delivery rose to settle at $7.1575 a bushel.
The U.S. Agriculture Department reported late Monday that 62 percent of the corn crop was in good-to-excellent condition across the growing region. That compared with 71 percent in good-to-excellent condition a year ago.
Conditions worsened in four of the top five producing states — Iowa, Illinois, Indiana and Nebraska — as hot weather prevailed and rain was elusive, Northstar Commodity analyst Jason Ward said. The only state among the top five where conditions improved was Minnesota