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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Corn crops in Midwest, Southern Europe endure drought conditions

Jul 24, 2012 11:19 AM

Cornfields on either side of the Atlantic Ocean are being baked, further endangering the crop and its production, according to Bloomberg.

Southern Europe, which supplies 16 percent of world exports of the agricultural commodity, is enduring heat waves, compounding the drought that the Midwest of the U.S. is coping with. The agricultural commodity has pushed to record highs as a result of the parched conditions of crops in the U.S.

"Everyone is looking to the U.S., but clearly in Europe we'll need to import a lot of wheat and corn," market analysis head Cedric Weber with farmer sales advisor Offre et Demande Agricole of France told the news source. "That's just adding to the problems we've got everywhere."

At 7:39 a.m. on Tuesday, corn futures fell 1.15 percent, a 0.09 cent loss to $7.765 per bushel.

Reuters reports some new corn contracts have gained 50 percent since the beginning of last month. Corn futures contracts for delivery later this year achieved record highs last week as the Midwest drought has persisted and endured.

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