Soybeans, Corn Rise on Dry South American Weather; Wheat Gains
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Soybeans capped the longest rally since July and corn rose to a one-month high on speculation that hot, dry weather is hurting crops in South America. Wheat gained for the fifth straight session.
As much as 40 percent of Argentina’s corn-growing region will remain under stress for at least two weeks because overnight rains were lighter than expected, the Commodity Weather Group LLC said in a report. In Brazil, a quarter of the corn and soybean crops will remain under stress after showers in the next four days, the private forecaster said.