(Bloomberg) -- Corn futures in Chicago fell to a one-week low on speculation drier weather in the U.S. Midwest will accelerate planting. Soybeans rose as prospects dwindled that farmers will switch more acres to the oilseed.
Mostly dry, warm weather until May 6 will improve conditions for farmers who plan to plant the most corn acres since 1944, Meteorlogix LLC said. Sun and temperatures as much as 15 degrees Fahrenheit above normal in the past three days dried fields that got as much four times the normal amount of rain this month, impeding heavy machinery from sowing seeds.
Read more at Bloomberg Commodities News
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