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Caribbean Storm Threatens U.S. Soybean Harvests, Lifting Prices

  • Supplies of soy are scarce as severe weather approaches U.S.
  • Soybean futures are bull-spreading as nearby contracts surge
   
Photographer: Daniel Acker/Bloomberg
Updated on

Prices for some soybean contracts are rising as storms in the Caribbean Sea threaten to disrupt the early U.S. harvest.

Grains and oilseeds have been generally getting cheaper due to better crop prospects. But because of the storm, the nearby September contract traded in Chicago is gaining sharply against November futures, the contract that’s currently the most traded, in a move known as bull spreading.