Corn declined for a third day to head for the longest retreat since September as U.S. farmers accelerated harvesting of a record crop in the world’s biggest grower. Soybeans also dropped. The contract for March delivery lost as much as 0.5 percent to $3.8875 a bushel on the Chicago Board of Trade and was at $3.895 at 2:32 p.m. in Singapore. A decline today would complete the longest losing run since Sept. 23. About 89 percent of the crop, forecast to total 14.407 billion bushels, was collected as of Nov. 16, according to the U.S. Department of Agriculture. That’s up from 80 percent a week earlier and ahead of the five-year average, the USDA said yesterday. Delays to the harvest in the Midwest remain minor and much of it should be complete by the time rains return in six to 10 days, Commodity Weather Group LLC said in a report. “Weather forecasters have been largely correct in expecting few harvest issues from the cold U.S. weather,� Commonwealth Bank of Australia said in an e-mailed note today. Soybeans for January delivery lost 0.6 percent to $10.30 a bushel in Chicago. Futures surged 1.3 percent yesterday after a government report showed U.S. supplies inspected for export jumped 25 percent to a record 3.113 million metric tons in the week to Nov. 13, with more than 78 percent headed to China, the biggest consumer. The U.S. is the world’s top grower. Wheat for delivery in March fell 0.6 percent to $5.505 a bushel. To contact the reporter on this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net To contact the editors responsible for this story: James Poole at jpoole4@bloomberg.net Jake Lloyd-Smith, Ovais Subhani

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