NEW YORK (AP) -- Corn prices fell to a one-month low Monday as more favorable weather in the Midwest boosted confidence that crops will bounce back from devastating flooding last month. Soybeans also dropped.Other commodities traded mixed, with crude oil fluctuating between gains and losses and gold, silver and copper prices rising. Other agriculture futures fell.
Weather forecasts show rainfall this week for western Corn Belt states of Minnesota, the Dakotas, central Nebraska and northern Iowa, offering relief to dry crops as the enter the critical pollination period. In eastern Corn Belt states, warm, dry weather is expected to continue this week, boosting crops that were battered by massive June flooding.
"Since the floods, the weather's been nearly ideal for crop development," said Jason Ward, analyst with Northstar Commodity in Minneapolis. "We've had a good mix of moisture and heat."
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