Farms.com Home   News

U.S. grains: Soybeans ease on South American rainfall

Chicago soybean futures dropped on Thursday, pressured by South American forecasts for more rain which could relieve parched soy crops in Argentina.

Corn and wheat weakened, holding on to some of the previous day’s gains as extreme winter weather threatens winter wheat crops in the U.S. Plains and Midwest.

The Chicago Board of Trade most-active soybean contract dipped 12-1/2 cents, to $14.72 a bushel (all figures US$).

Corn ended down 1-3/4 cents to $6.60-1/2 a bushel, after climbing to $6.64-3/4, its highest level since Dec. 1.

Wheat eased 5-1/2 cents to $7.62-1/2 a bushel, after climbing to $7.77 a bushel, its highest since Dec. 2.

“We got some unexpected heavier rains in Argentina overnight. The forecast turned a little wetter going forward,” said Karl Setzer, commodity risk analyst at Agrivisor. “Some of the risk premium that was put into the market yesterday, we’re pulling back out.”

Click here to see more...

Trending Video

Corn Fungicide | Beck's Agronomy Update

Video: Corn Fungicide | Beck's Agronomy Update


Beck's - Farmers At Heart® - revolutionized the customer seed buying experience by remaining true to a foundation built on faith, family, and farming. Founded in 1937, Beck's appreciates the farmers who have helped them become the largest family-owned retail seed company and the third largest seed brand in the United States. The Beck family is now in its fifth generation of family members who work in the business to honor God and help farmers succeed. The Beck family and team of employees help farmers achieve success from generation to generation through authentic customer experiences, product diversity, seed quality, and performance. With a home office located in Atlanta, Ind., Beck's serves farmers throughout the Midwest and Mid-South.