Corn prices are falling after a spell of warm, dry weather left more than two-thirds of the crop in good condition.
Corn settled down 3.5 percent Tuesday at $7.555 a bushel. That’s still more than double what the price was a year ago.
The U.S. Agriculture Department says 69 percent of the corn crop was in good-to-excellent condition at the end of last week. That compares with 77 percent a year ago.
Investors speculated that a large corn crop could ease a global supply shortage. Analysts have said U.S. farmers need to produce as large a crop as possible this year to help ease some of that tightness.
