Corn Falls to Longest Slump in 4 Months as Record Harvest Seen
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Corn fell for a sixth session, the longest slump since February, as warm Midwest weather bolstered prospects for a record crop in the U.S., the world’s largest exporter. Wheat and soybeans also slid.
Yields may average 156 bushels of corn an acre this year, the third-highest ever, lifting output to a record 13.62 billion bushels, said Bill Gary, the president of Commodity Information Systems in Oklahoma City. Normal or below-average Midwest temperatures are expected over the next 15 days, said Commodity Weather Group. The U.S. government will release acreage and stockpile reports tomorrow at noon in Washington.