Corn Surges Most Since June as U.S. Supply Ebbs; Soybeans Fall
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Corn futures surged the most in nine months after inventories slumped to a four-year low in the U.S., the world’s biggest exporter. Soybeans fell on rising production in South America.
Corn stockpiles on March 1 declined 15 percent from a year earlier as demand for animal feed, fuel and food climbed, the U.S. Department of Agriculture said yesterday. In the week ended March 24, U.S. exports for delivery before Aug. 31 doubled to 1.91 million metric tons from a week earlier. Futures jumped the most allowed by the Chicago Board of Trade for the second straight day.