Soybeans Drop to Lowest Since July on U.S. Harvest, Brazil Rains

Soybeans tumbled to the lowest in almost three months as an early U.S. harvest and improving weather conditions in South America, the largest growing region, eased supply concerns.

Brazil’s recent dry pattern may ease as storms may bring as much as 1.25 inches (3.2 centimeters) of rain in the next five days after 1.75 inches fell in the past 24 hours, Commodity Weather Group said today in a report. In the U.S., 41 percent of the crop was harvested as of Sept. 30, compared with 15 percent a year earlier, the Department of Agriculture said Oct. 1.