Soybeans Fall Most in Seven Weeks on Supply Outlook

Soybean futures fell the most in seven weeks after the U.S. government said bigger crops in South America will boost global inventories before the Northern Hemisphere harvests. Corn rose.

World soybean production will total a record 269.5 million metric tons, more than the 269.41 million forecast in January, and up 13 percent from a year ago, the U.S. Department of Agriculture said today in a report. Combined production in Brazil and Argentina will rise 28 percent to a record 136.5 million, the agency said. Inventories on Oct. 1 were estimated at 60.1 million tons, up from 55.25 million a year earlier.