Soybeans fall for second session on US harvest, wheat eases
DBA•Soybeans fell 0.3% to $12.94 a bushel and wheat eased to $6.86-1/4 as the US harvest advanced. Markets awaited Friday’s USDA supply-and-demand report.
1. Harvest pressures soybeans
Chicago soybeans fell for a second session as the US harvest gathered pace across the Midwest under mostly clear skies. Corn added 0.1% to $5.02-1/2 a bushel.
2. Markets await USDA report
The USDA’s Friday report will include updates on US crops. Analysts surveyed by Reuters on average expect the agency to lower its US corn yield estimate and leave its soybean yield view unchanged. Wheat eased, with limited losses as traders weighed disruption to Black Sea trade against signs of rising Russian exports through Baltic Sea routes.
