Commodities

Corn Posts Record Drop on Wetter Forecast for Drought-Hit Crop

Photographer: Jonne Roriz/Bloomberg
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Corn futures tumbled Friday as traders exited positions amid a wetter outlook for the US crop that has been sufferingBloomberg Terminal under drought conditions.

Corn for December delivery sank 5.9%, the biggest one-day loss in the contract’s history. Soybeans and wheat also fell.