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.
Wheat prices rose to a one-month high and soybeans climbed for the third time in four sessions as wet weather disrupted field work in the U.S. Midwest and Great Plains. Corn advanced to a five-week high.