Soybeans Slide a Fourth Day as Report Might Ease Supply Concern
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Soybeans fell for a fourth day in Chicago before a U.S. government report predicted by analysts to show higher domestic reserves and rising South American crops. Wheat gained.
Brazil, set to become the world’s largest exporter, may produce a record 81.9 million metric tons this year, up from last month’s 81 million-ton forecast, according to a Bloomberg survey before the U.S. Department of Agriculture updates its estimates today at noon in Washington. U.S. soybean inventories before the next harvest may total 135 million bushels, above the prior forecast of 130 million, the survey showed.