Soybeans Slump to 1-Month Low on U.S. Dry Weather; Grains Rise
This article is for subscribers only.
Soybeans dropped to a one-month low on speculation that dry weather in the U.S. Midwest will help maturing crops rebound after conditions deteriorated. Corn and wheat rose.
The weather will be mostly dry and warm over the next two weeks, T-Storm Weather LLC said in a note to clients. Soybean-crop conditions deteriorated for five straight weeks and are the worst so far this season. About 50 percent of fields were in good or excellent condition as of Sept. 15, compared with 64 percent on Aug. 11. The U.S. Department of Agriculture will publish its weekly update on crop ratings later today.