July 14th, according to media reports, the CBOT corn futures market closed up sharply, with the benchmark period closing up about 3.5%, recovering all the lost ground on Wednesday, because the weather in the corn belt will become hot and dry again in the next few days.
The U.S. dollar fell to its weakest level since April 2022 on Thursday, also lending support to the corn market.
The U.S. corn crop will still face weather risks in the next few weeks. Marex said that the weather forecast shows that the precipitation situation in the coming week is good, and then the rainfall will decrease, and there will be hot weather in the corn belt in late July.
The corn crop will enter a critical pollination phase in the coming weeks. Corn futures rebounded on bargain hunting after prices fell to a 2-1/2-year low in early trade, traders said.
