Corn futures rise as dollar flags in American trade

Corn futures rose in American trade as the dollar index inched down to the lowest since August 26, amid a lack of data from the US, the world's largest corn producer and exporter. 

As of 08:08 GMT, corn futures due on September 15 rose 0.53% to $3.770 from the opening of $3.750, while the dollar index shed 0.52% to 94.63 from the opening of 95.13, marking an eleven-month trough. 

Corn's gains were boosted by dollar's slump following a spate of downbeat US data recently, which pretty much ruled out another interest rate hike this year by the Federal Reserve as inflation moves away from the 2% target. 

Otherwise, concerns over US weather continue to underpin corn prices, as some fears dry hot weather will cast shadows over grain output, while the US Department of Agriculture's report last week warned from the impact of high temperature and lack of wetness on the corn harvest.