Soybeans fell from a one-week high on speculation that rain may aid crops in Brazil and Argentina, the world’s biggest growers after the U.S. Wheat also declined, while corn advanced for a third session.
Precipitation will return to southern Brazil by Dec. 27, after dry weather the past two weeks began to threaten yield potential, World Weather Inc. said in a report today. Rain and lower temperatures will ease soil-moisture deficits in parts of Argentina beginning Dec. 29, after temperatures rise near 100 degrees Fahrenheit (38 Celsius) this week, the forecaster said.
