Corn jumps over 3% as dollar slips

Corn futures rose on Thursday, the US dollar fell against most currencies, and weather forecasts for unfavorable weather conditions in some US states.

The US Department of Agriculture raised its expectations for the US corn production by 15.3 million bushels to 278 million bushels for the current marketing year.

The dollar index fell against a basket of currencies by 0.1% to 93.3 points as of 20:30 GMT, after it hit a high of 93.3 and a low of 92.9.

Weather agencies forecast drought in some of the Midwest states, which encompass large areas of crops and grains.

Corn September futures rose 3.3% to close at $3.25 per bushel, after hitting a day high of $3.27 and a low of $3.14.