Corn advanced for a second day, extending the biggest gain in almost three months, and soybeans rose as above-normal temperatures in parts of the U.S. threaten to stress crops that are already deteriorating. December-delivery corn climbed as much as 2.3 percent to $6.68 a bushel on the Chicago Board of Trade before trading at $6.6275 at 11:09 a.m. Singapore time. The contract gained 4.2 percent yesterday, the most since April 1. Above-normal temperatures and below-average rainfall across Mississippi Delta states and southeastern part of the U.S. may stress corn and soybean crops, causing potential yield losses, Telvent DTN Inc. said in a forecast yesterday. The condition of the U.S. corn, soybean and wheat and crops deteriorated last week, according to the Department of Agriculture. “Supply concerns are starting to come to the fore again,” Michael Creed, an agribusiness economist at the National Australia Bank Ltd., said by phone from Melbourne today. “There’s still a fair bit of weather-related risk” to the next global harvests of corn, soybeans and wheat, he said. About 68 percent of the corn crop in the U.S., the world’s largest supplier, was in good or excellent condition as of June 26, down from 70 percent a week earlier and 73 percent a year earlier, the USDA said in a report on June 27. Soybeans for November delivery gained as much as 0.8 percent to $13.2975 a bushel in Chicago, before trading at $13.2875. Wheat Gains An estimated 65 percent of the soybeans received the top ratings, down from 68 percent a week earlier and 67 percent a year earlier, the USDA said. Planting was 97 percent completed, compared with 94 percent a week earlier and 96 percent, on average, for the previous five years. Wheat futures advanced for a second day, extending the biggest daily gain for the most-active contract since May 18. September-delivery wheat rose as much as 2 percent to $6.85 a bushel in Chicago. Two South Korean feed groups including the Major Feedmill Group are seeking bids to import as much as 220,000 metric tons of wheat for delivery in October and November at a tender today, according to a notice to suppliers, a copy of which was e-mailed to Bloomberg News yesterday. To contact the reporter on this story: Luzi Ann Javier in Singapore at ljavier@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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