Corn, Soybeans Rise as Hot, Dry Weather Threatens U.S. Crops
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Corn rose, capping the first weekly gain since May, and soybeans climbed on concern that hot, dry weather in the next two weeks will erode crop prospects in the U.S., the world’s biggest producer and exporter.
Temperatures will approach 100 degrees Fahrenheit (38 Celsius) next week from Nebraska to southwestern Indiana with overnight lows expected to be above average, increasing stress on crops, Commodity Weather Group LLC said in a report. Dry, hot weather will continue from July 19 to July 23, the forecaster said.