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Corn Posts Longest Rally in Year on Adverse Weather; Soy Gains

Corn rose, capping the longest rally in a year, and soybeans jumped the most in 11 weeks on speculation that adverse weather threatens to reduce output in South America, bolstering demand for U.S. supplies.

About 50 percent of the crops in Argentina will be dry in the next 10 days after weekend rain stayed north of the main growing regions, Commodity Weather Group LLC said in a report. As much as a third of Brazil’s crops face a lack of rain, the forecaster said.