After heat, 77 percent of corn good to excellent

Most Minnesota corn weathered the heat wave relatively well, but crops in Wisconsin and elsewhere are suffering – prompting corn prices to soar.
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Minnesota crops continued to progress ahead of the average, even with record-setting temperatures last week, the Associated Press reports. Forty-one percent of corn was silking and beyond, compared with 0 percent last year and 8 percent for the five-year average. Corn was rated 77 percent good to excellent.

Wisconsin is not faring as well. Gov. Scott Walker declared a state of emergency in 42 Wisconsin counties Monday in an attempt to get more state and federal resources to farmers whose crops are threatened by drought conditions, the Milwaukee Journal-Sentinel reports.

Prices for corn, wheat and soybean futures rose sharply Monday as hot weather continues to blanket the Midwest and threaten crops, the AP says.

The heavily traded December contract for corn shot up 37 cents, or 5 percent, to settle at $7.30 per bushel Monday. Corn has been rising sharply since June 21, when it settled at $5.50 per bushel.

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