KANSAS CITY, MISSOURI, US — Concerns that adverse crop weather could cut into production around the globe sent US corn, soybean and wheat futures to multi-month highs on Wednesday.

The sentiment gained legs after the US Department of Agriculture late Tuesday cut its good-to-excellent ratings for US corn and soybeans by more than expected, including steep drops in top-producing states Iowa and Illinois.

July corn jumped 27¼¢ to settle at $6.71 a bushel. Chicago July wheat soared 38¾¢ to close at $7.34½ a bushel. Kansas City July wheat advanced 37¾¢ to close at $8.73¾ a bushel. Minneapolis July wheat added 29¾¢ to close at $8.78¾ a bushel. July soybeans rocketed up 37½¢ to close at $15.14¾ a bushel. July soybean meal rose $26.40 to close at $439.20 per ton. July soybean oil plummeted 4¢ to close at 55.63¢ a pound.

Major US equity indexes pulled lower for a third consecutive session Wednesday, a signal some analysts say represents investors taking a breather after a multiweek rally that put the S&P 500 at a 12-month high.

The Dow Jones Industrial Average dropped 102.35 points, or 0.30%, to close at 33,951.52. The Standard & Poor’s 500 shed 23.02 points, or 0.52%, to close at 4,365.69. The Nasdaq Composite fell 165.09 points, or 1.21%, to close at 13,502.20.

US crude oil futures were higher Wednesday, the August West Texas Intermediate (WTI) light, sweet crude future up $1.34 to close at $72.53 per barrel.

The US dollar index on Wednesday reverted to the downside pattern that ruled most of the previous week.