Corn, Soybeans Fall as Cool, Wet Weather May Aid Growth of Midwest Crops

(Bloomberg) -- Corn futures in Chicago headed for
the biggest weekly drop in 10 years and soybeans fell on
speculation rains and cooler weather will promote development of
the two biggest U.S. crops.

Midday forecasts from the National Weather Service showed
no threat of a heat wave and more rains likely in the Midwest, a
shift from earlier outlooks for warmer, drier weather, said Mike
Tannura, a meteorologist for T-Storm Weather in Champaign,
Illinois. Some fields received as much as four times the normal
rain this week, easing crop stress.


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