date:Aug 14, 2014
of 2 percent prior to the drought. While the drought has sparked a rally in corn and wheat futures on the Dalian Commodity Exchange, analysts said gains were likely to be short-lived as estimates of widespread crop damage may be exaggerated.
At the peak of the drought in early August, the Henan government said some 830,000 hectares of farmland were damaged, but that number has since fallen to about 508,000 hectares as of August 10 after heavy rainfall over the weekend, said Meng Jinhui, a Bei