Corn climbs on forecast for dry weather

Staff Writer
Columbus CEO

Corn is gaining the most in almost four months as dry weather is forecast for the Midwest.

December corn rose 22 cents, or 4.7 percent, to $4.85 a bushel Monday. That's its biggest one-day increase since April 29.

The forecast for drier weather has helped corn prices rebound from the lowest level in almost three years. Corn has slumped this year after the government said in the spring that growers intended to plant the most corn in almost 80 years. Wheat and soybeans also rose.

In metals trading, most futures contracts fell.

Gold, silver and copper ended lower.

In energy trading, the price of oil edged down 36 cents, or 0.3 percent, to $107.10 a barrel.