Soybeans Drop for Third Session as Rain May Aid Brazilian Crops
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Soybeans fell for a third session in Chicago as rains forecast for this week in South America may help improve growing conditions. Wheat and corn rose.
Growing areas in Brazil may get as much as 1.25 inches (3.2 centimeters) of rain in the next five days, according to a Commodity Weather Group forecast. Brazil is set to overtake the U.S. this year as the world’s largest soybean grower and exporter, according to the U.S. Department of Agriculture. Brazilian farmers typically plant the oilseed starting in October for a harvest beginning in March.