Corn futures accumulate nearly one percent

Corn futures rose nearly one percent as the dollar index gave up ground, following an array of data from the US, the world's largest corn producer and exporter. 

As of 08:21 GMT, corn futures due on December 15 rallied 0.70% to $3.6100 from the opening of $3.5750, while the dollar index declined 0.23% to 92.04 from the opening of 92.25. 

Earlier US data showed the trade balance with a deficit that rose below expectations to $43.7 billion in July, while the ISM services PMI rose to 55.3 in August, nonetheless missing analysts' expectations.

Otherwise, the US Department of Agriculture's grain report released last Sunday downgraded corn ratings unexpectedly in such time of year by a hundred basis points to 61% as good to excellent. 

climatic concerns resurfaced again in the US amid worries about another massive storm threatening the Florida and the eastern coast, underpinning corn futures on supply disruptions bets. 

The US National Hurricane Center said yesterday that Hurricane Irma's intensity is increasing rapidly, reaching Category 5 status with a speed of 175 m/h speed, and warning that heavy rainfall and destructive wind coming along Irma could threaten the lives of individuals living within the affected areas, with the Hurricane expected to be the strongest in the Atlantic Ocean since 2007.