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Wheat Rises in Paris in Record Rally as South America Stays Dry

Milling wheat futures rose for a 12th day in Paris, the longest rally for the most-active contract since the grain started trading in the French capital in 1999, amid concern dry weather will damage South American grain crops.

Parts of Argentina and south Brazil were forecast to have more dry and hot weather early this week, resulting in crop stress for corn and soybeans, AccuWeather Inc. said in a Dec. 30 report. Argentina is the world’s second-largest corn shipper after the U.S.