Economics
Corn Rises to 14-Month High as Hot, Dry Spell Hurts U.S. Crop
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Corn rose, extending a rally to a 14-month high, after hot, dry weather last month in the Midwest increased the chances of lower yields in the U.S., the world’s biggest producer and exporter.
Some fields from southeastern Kansas to eastern Michigan got less than 50 percent of the normal rainfall in August, and temperatures averaged as much as 5 degrees Fahrenheit above normal, data from the Midwest Regional Climate Center show. On Aug. 10, the U.S. Department of Agriculture forecast record yields this year, based on conditions as of Aug. 1.