Funds rush towards CBOT corn, soybeans

Uncertain weather: A farmer prepares to chop up corn stalks in Tiffin, Iowa. Forecasts as of last Friday showed scattered rain possibilities for parts of the US Corn Belt this week, though the moisture will come too late for some fields. — AFP

THE second half of August was exceptionally dry in the US Corn Belt, likely trimming yields for corn and especially soybeans due to their reliance on late-season moisture.

Speculators responded by boosting their bullish Chicago soybean bets, which they have held for more than three years, and easing bearishness in corn futures.