Corn capped the longest slump in more than a month and wheat fell to a six-week low on signs that warm, dry weather will allow U.S. farmers to accelerate planting delayed by a cold, wet April. Soybeans rose.
South African corn fell after the price on the Chicago Board of Trade, the global benchmark, dropped 1.9 precent on May 10 as a U.S. Department of Agriculture report found inventories will double as farms recover from the 2012 drought.
Global farmers will harvest the biggest grain and soybean crops ever this year, boosting food reserves to the highest since 2000, the U.S. government said. Corn, wheat and oilseed futures in Chicago slumped.