Soybean futures fell for the first time in three sessions as farmers completed a bumper harvest in the U.S., the world’s top producer. Corn declined.
About 97 percent of the U.S. crop was reaped as of yesterday, up from 94 percent last week, according to the average estimate of analysts surveyed by Bloomberg News. Showers will aid plants in the next seven to 10 days in parts of Brazil, the second-biggest grower, DTN said in a report.
“We’ve reached the post-harvest time” in the U.S., Jim Gerlach, the president of A/C Trading Co. in Fowler, Indiana, said in a telephone interview. “It looks like the pipelines are getting refilled. Everything’s going good in South America. The path of least resistance is lower” for prices, he said.
Bloomberg
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