【Fuji Tomi】Tokyo corn continues to rise sharply

（Tokyo Corn）
Tokyo corn on the 8th extended sharply. As of 11:00 the near-month May contract was up 360 yen at 22,760 yen.
Investors are wary of hot and dry conditions in the U.S. Corn Belt and Plains, and Chicago has shown consecutive sharp rises. The northern Plains, where soil moisture is deficient, is especially concerning for crop prospects, but it should be considered that large funds that are still net long are likely to buy back, pushing prices higher. Tokyo had been trading firm even at night, but considering the prior day's firmness, it would not be surprising to see prices in the 22,700 yen range from the early morning. There is a possibility of reaching 23,000 yen by the weekend. The weather risk buying has just begun, and given that hot and dry conditions may linger into the weekend, the buying is unlikely to retreat. Although there have been recommendations to actively buy since the previous day, buying remains intact.
https://www.fujitomi.co.jp/?p=15789