Corn, Soy Fall as Wet, Warm Weather Aids U.S. Crops; Wheat Drops
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Corn fell from a 12-week high in Chicago and soybeans declined the most in two months on speculation that wet, warm weather in the U.S. will accelerate crop development, boosting yields. Wheat futures declined.
Most of the Midwest and northern Great Plains will have a timely mix of rain, warmer temperatures and sunshine, boosting crop development that has been curbed by late planting and cool temperatures in the past six weeks, World Weather Inc. said in a report to clients. The National Weather Service forecast normal weather for the next three months, and further improvement in drought conditions in the western Midwest and Plains.