Corn Futures Slump Below $4 for First Time Since 2010
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Corn futures fell below $4 a bushel for the first time in four years on bets that rain will boost yields for crops in the U.S., the world’s biggest grower. Soybeans extended the longest slump since 2009.
Forecasts for cooler and wet weather in the Corn Belt over the next week will favor plants, Bethesda, Maryland-based Commodity Weather Group said in a report. The showers and mild temperatures are improving the outlook for U.S. production, already forecast by the government to climb to a record for the second straight season.