Corn Prices Hit 15-Month High as La Niña Threatens South America

Corn futures for March-25 trades near the key 55/BU area, setting a 15-month high, on worries over dry Argentine weather and lower US carryout at the end of the current crop year. The Oceanic Nino Index points to an incoming La Nina which normally brings persistent dryness to Argentina and southern Brazil, potentially worsening crop conditions, with expectations for Argentina’s corn and soybean crops already suffering a series of downgrades.