Corn drops as production reaches new high

Corn declined on Monday trading session falling by the most in a five-week period amid rising concerns that supplies of the commodity may advance as production in the U.S. increased to an all-time high for the second straight year. Corn for settlement in May dropped 1.1% to $4.54 per bushel as of 9:56 a.m. on the CBOT and was set to record its largest fall since January 15.