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Corn Futures Hit Three-Year High

Adverse weather cause planting delays across key growing areas

File Photo
File Photo

U.S. corn futures surged 4.1% to their highest levels in nearly three years on Tuesday, supported by planting delays across key growing areas of the U.S. Midwest following heavy rains, traders said.

According to a report at Reuters, the adverse weather in the Midwest and Plains also fuelled rallies in the soybean and wheat markets due to concerns that farmers will be forced to curtail their plantings this spring and worries that flooding damaged the quality of the wheat crop.

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