date:Jul 28, 2012
t. The drought is likely to persist through at least the next 10 days, he said.
The weekly U.S. Drought Monitor on Thursday reported that 17.2% of the country was in extreme drought or worse, up from 11.3% the prior week. More than half the country is in at least moderate drought.
But some traders and analysts think the market has established a top. September corn is down from a July 20 peak of $8.28 3/4.
Traders who see downside to the market think that this year's poor crop has already been