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Corn Rebounds From 3-Year Low as Harvest Gain Less Than Forecast

Corn rebounded from the lowest price in three years after the government predicted smaller harvest gains than analysts forecast in the U.S., the world’s largest grower and exporter. Soybeans rose the most in eight weeks.

Farmers will collect a record 13.989 billion bushels of corn this year, the U.S. Department of Agriculture said today in a report. While that’s more than the 13.843 billion predicted in September and 30 percent above the drought-damaged harvest of 2012, it was less than the 14.029 billion expected by 36 analysts in a Bloomberg survey, on average.