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Corn Jumps on Abandoned Acres, Dry Weather; Soybeans, Wheat Rise

Corn gained the most in five weeks after the U.S. Department of Agriculture said the number of acres farmers were unable to plant surged, and as dry weather threatens Midwest crops. Soybeans and wheat rose.

Growers filed insurance claims on 3.411 million acres of corn they were unable to plant due to wet weather in May and June, up from 262,467 last year, USDA data show. Little or no rain has fallen in parts of Iowa and Illinois, the biggest growers of corn, in the past two weeks, National Weather Service data show. Prices are down 32 percent this year on government forecasts that output will rebound to a record after drought reduced the harvest in 2012.