Corn futures tumbled the most since November and wheat had the biggest plunge since January 2009 as the U.S. government reported grain acreage and inventories that topped estimates by analysts. Soybeans fell, and rice rose.
U.S. farmers planted 92.282 million acres of corn this year, 1.8 percent more than projected by analysts in a Bloomberg News survey, and the second-highest since 1944, the Department of Agriculture said today. Stockpiles as of June 1 were 3.67 billion bushels, 12 percent higher than forecast.
