Corn Falls to Eight-Month Low, Soybeans Drop as Midwest Rains Aid Crops

(Bloomberg) -- Corn fell to the lowest in eight
months in Chicago and soybeans dropped from a three-year high as
rain improved conditions for the two biggest U.S. crops.

Some fields from Iowa to Ohio may receive as much as 1 inch
(2.5 centimeters) of rain in the next 72 hours, boosting soil
moisture and cooling temperatures, said John Dee, president of
Global Weather Monitoring in Mohawk, Michigan. A second storm
front may move into the Midwest beginning July 9, bringing
heavier and more widespread rains, Dee said.


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