Corn Prices Drop Most in Eight Months on Rising U.S. Reserves
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Corn prices fell the most in more than eight months after the U.S., the biggest grower and exporter, said inventories before the harvest rose to the highest level since 2006.
Stockpiles on Sept. 1 totaled 1.708 billion bushels, up 2 percent from a year earlier, the U.S. Department of Agriculture said today in a report. Analysts in a Bloomberg News survey expected 1.407 billion, on average. Corn usage in the three months ended Aug. 31 was 2.6 billion bushels, up from 2.59 billion a year earlier.