Soybeans Rise for Third Session as Brazil Rain May Slow Harvest
This article is for subscribers only.
Soybeans rose for a third session in Chicago on speculation excess rain will delay shipments from Brazil, set to become the world’s largest exporter.
Mato Grosso, the largest soybean-growing state, southern Goias and western Minas Gerais will see shows through at least Feb. 7, forecaster DTN said in a report today. Too much humidity was helping disease to spread there and in other areas of west-central Brazil, and moisture is hindering the harvest, Somar Meteorologia said yesterday. Ships had to wait about 35 days to load crops as of Jan. 29 at Santos, Brazil’s largest port, said shipping agency Unimar Agenciamentos Maritimos Ltda.