Soybeans Drop Most in Week as Rain Aids U.S. Crop; Corn Declines
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Soybeans fell the most in more than a week on speculation that Midwest rains will halt declining crop conditions in the U.S., the world’s largest grower. Corn dropped for a third day, and wheat slid.
Fields from North Dakota to Ohio got as much as 1 inch (2.5 centimeters) of rain over the past three days, National Weather Service data show. Showers will reach the southwestern Midwest through midweek, aiding a third of the soy crop, Commodity Weather Group said in a report. Crop conditions declined for four straight weeks, with 52 percent rated good or excellent on Sept. 8, down from 64 percent on Aug. 11, government data show.