Corn Drops on Concern U.S. Planting May Advance After Price Gain
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Corn fell for the first time in four days in Chicago on concern U.S. farmers may boost planting this year and on speculation a three-day rally curbed demand. Wheat and soybeans dropped.
U.S. farmers will increase corn seeding this year, boosting supply and reducing prices in the next six months, Goldman Sachs Group Inc. said in a report e-mailed to clients yesterday. Farmers in the world’s largest exporter probably will sow 92.1 million acres of corn this year, the bank said.