Crop prices are higher ahead of a government report that is expected to show tighter corn supplies next month.


Corn for December delivery rose 7.25 cents Tuesday, or 1 percent, to settle at $6.605 per bushel. December soybeans rose 3.25 cents to $12.05 a bushel.

On Wednesday, the U.S. Department of Agriculture is set to release its monthly survey of global grain and bean supplies. It's the first government report since farmers harvested their crop last month.

Traders think the report will show that an unusually hot summer pinched the size of the U.S. corn harvest. Corn hit a record price of $7.99 a bushel in June on fears of a shortage in 2012. Prices have since fallen after farmers planted the second biggest corn crop since World War II.

Copyright 2011 The Associated Press.