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Corn Tops $7 a Bushel for First Time Since 2013 on Supply Worry

  • Grains rally prompts Bunge to increase 2021 earnings outlook
  • Dry weather seen hampering Brazil’s upcoming corn harvest
Updated on

Corn futures surged above $7 a bushel for the first time in more than eight years as lack of rainfall in Brazil added to supply concerns.

Corn climbed as much as 3.6% to $7.04 a bushel on the Chicago Board of Trade, the highest since March 2013. The futures for July delivery pared gains to close the day with a 2.5% advance at $6.9675. Soybeans and wheat also rose.