Corn Surges Most in 3 Months, Soybeans Jump on U.S. Flood Threat
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Corn rose the most in almost three months and soybeans jumped to a 15-month high as flooding threatened to damage fields in Minnesota, the fourth-largest grower of the crops.
More than 6 inches (15 centimeters) of rain fell since yesterday in southern Minnesota, where the soil was already saturated, according to T-Storm Weather LLC in Chicago. As much as 40 percent of the state’s crops may suffer reduced yields, according to Bob Zelenka, the executive director of the Minnesota Feed and Grain Association in St. Paul.