Corn, Soybeans Fall as Demand Ebbs After Rally; Wheat Advances
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Corn and soybeans fell for the second straight day on bets that demand for supplies from the U.S., the world’s leading exporter, will ebb following price rallies to the highest since mid-2008. Wheat gained.
Archer Daniels Midland Co., the largest grain processor, delivered 1.96 million bushels of corn against expiring May futures, exchange data show. Brazil, the second-biggest soybean shipper, may harvest 72.6 million metric tons this year, Celeres, a crop forecaster, said yesterday. That topped a previous estimate of 70.6 million tons.