CBOT soybeans dive on US Midwest weather
SOYB•Soybean futures fall on Midwest weather outlook
CHICAGO, July 29 (Reuters) - Chicago Board of Trade soybean futures slumped on Wednesday as favorable weather was forecast in the U.S. Midwest.
- Most-active CBOT November soybeans SX26 settled down 27-1/4 cents at $11.92-3/4 per bushel.
- CBOT August soyoil BOQ6 ended down 1.59 cents at 69.17 cents per pound.
- CBOT August soymeal SMQ26 finished $0.50 lower at $315.30 per short ton.
- In the U.S. Midwest, forecasters are predicting rain near the end of the week, which is vital for the soybean crop as it reaches the pod-setting phase of its development, according to analysts.
- Oilseed processor Bunge Global raised its full-year profit forecast because of robust processing margins for soybeans and strong demand.
