Corn prices rise on wet weather, storm forecasts in next few days

Corn futures rose over one percent in American trade as the dollar index fell to its lowest since November 8 according to their inverse relation, amid a lack of data from the U.S., the world's largest corn producer and exporter. 

As of 08:02 GMT, corn futures due on July 15 rose 1.02% to $3.7150 a bushel from the opening of $3.6775, while the dollar index slid 0.59% to 97.52 from the opening of 98.86, marking a six-month low. 

According to the U.S. National Weather Services, there will be thunder storms later today in the Midwest, moving through the Mississippi river, while a huge storm will cover the area from Texas to Iowa, leading to more rains on the gran belt and leading to crop delays.  

The American Midwest will witness more wet weather amid rain and thunder storm forecasts until the weekend, while the dollar's recent weakness gives an edge to U.S. farmers abroad.