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Week Ends on Weather WorriesCHICAGO - Aug 4/06 - SNS -- Markets are finishing up the week on a relatively quiet note, though U.S. corns and soybeans traded to South Korea overnight. Commodity markets remain focussed on the evolving weather story in the United States, with major differences of opinion emerging over the impact the heat will have on corn yields. Some traders believe they are being hurt and are buying corn futures; while others believe pollination occurred early enough and current varieties are tough enough to take the heat wave without significant damage. By contrast, soybean market participants argue recent rains have eased stress on the crop, suggesting the warm and dry outlook on 6 to 10 day weather maps will not have much impact. Such thoughts make it hard for the bulls to rally support for their cause. Subscribers can read the full text of the article by Clicking here
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