Corn prices rise after US Department of Agriculture report

Corn prices rose during today's trading amid a slight drop for US dollar levels against most major currencies, and following a report from the US Department of Agriculture.

The Department of Agriculture revealed that climate change would cause extreme weather conditions that would harm agricultural crops and farmers this year.

If carbon dioxide emissions continue to increase in the atmosphere, maize and soybean production will be affected, the report said.

The impact of climate change will adversely affect the quality and quantity of crops harvested from maize, which means a shortage of supply.

In a related context, by 13:44 GMT, the dollar index (against a number of major currencies) fell by 0.1% to 97.6 points, reaching a high of 97.8 points and a low of 97.5 points.

In terms of trade, by 13:46 GMT, corn futures for September delivery rose by 0.3% to $433 per bushel, hitting a high of $436.7 and a low of $430.