Soybeans Caps Longest Rally Since 2007, Corn Rises on Heat Woes

Soybeans rose, capping the longest rally since 2007, and corn climbed to a one-month high on speculation that hot, dry weather will reduce crop yields in the U.S., the world’s leading exporter.

High temperatures will rise to as much as 12 degrees Fahrenheit above normal for seven days starting tomorrow in the Midwest, Mike Tannura, the president of T-storm Weather LLC, said in a telephone interview. As much as 46 percent of the corn crop and 44 percent of soybeans have drier-than-normal topsoil, and the adverse conditions may extend into August, he said.