Recap for May 6

  • Weather with the potential to cut into yields in countries that compete with the US for export business helped corn, soybean and wheat futures climb Monday. Wheat futures shot higher with winter wheat futures posting the widest gains on crop weather problems in Russia including dryness and frost. IKAR last week cut its production estimate for Russia, the world’s largest wheat exporter. Soybean futures reached a four-month peak on a deteriorating harvest in Brazil’s Rio Grande do Sul state, where torrential