Corn futures jumped the most in a week as demand rose for exports from the U.S., the world’s biggest shipper, and inventory of grain-based ethanol dropped to the lowest since November 2010. Wheat and soybeans gained.
Wheat fell, halting the longest rally since July, on speculation that a rebound in global output will reduce demand for supplies from the U.S., the biggest shipper. Corn and soybeans were little changed.
Corn and soybeans rose, capping the third straight weekly gain, on speculation that a heat wave in the main U.S. growing areas is reducing yields from crops that the government expects will be the biggest ever.