Corn, Soybeans Fall From 29-Month Highs on South America Rain
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Corn and soybeans fell from the highest levels in 29 months on speculation that rains will reduce plant stress in Argentina and boost crop development in Brazil, the two biggest exporters after the U.S.
As much as 1.3 inches (3.4 centimeters) of rain will fall in parts of Argentina the next three days, helping at least 40 percent of the corn crop, a fifth of the soybeans and nearly all the sunflowers, according to T-Storm Weather LLC. Most of Brazil will benefit from normal rainfall the next 10 days, the Chicago-based forecaster said today in a report.