Corn fell, capping the largest weekly drop in six months, on speculation that favorable weather will boost planting in the U.S., the world’s top producer. Hard-red wheat rose to a 14-month high, and soybeans gained.
Wheat futures fell from a two-month high on speculation that export sales will ease from the U.S., the world’s top shipper. Oats dropped from a record, while soybeans rose to the highest since September.
A snowstorm that’s already forced shutdowns of government offices in Kansas is bringing some much- needed moisture for dormant wheat crops across the Great Plains, where last year’s drought eroded crop conditions.