Corn, Soybeans Fall as Rain May Aid Crops in Brazil, Argentina
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Corn and soybean futures declined for the second straight day on speculation that rain will improve soil moisture for developing crops in Brazil and Argentina, the world’s biggest exporters behind the U.S.
As much as 0.5 inch (1.3 centimeters) of rain fell in Argentina in the past 24 hours and another storm, expected on Dec. 11, will bring as much as 1 inch to the driest growing areas, Mike Tannura, the president of T-Storm Weather, said in a report. Precipitation in the next week will maintain beneficial conditions for crops in Brazil, he said.