Soybeans Futures Rise on Signs Rain Slows U.S. Harvest
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Soybean futures rose the most in three weeks on signs that rain will hinder harvesting in the U.S., the world’s biggest producer. Wheat climbed to the highest since June, and corn gained.
As much as 1 inch (2.5 centimeters) of rain in the past 24 hours halted fieldwork in Nebraska and Minnesota and as much as 2.5 inches in the next four days will stall collection of the soybean crop in half of the Midwest, T-Storm Weather LLC in Chicago said in a report. As of Sept. 29, the harvest trailed the average in the previous five years, government data showed. Margins for processors rose to the highest since Sept. 4.