Soy Hits 3-Week High With Heat Gripping US as Crop Tour Starts
- Parts of key growing regions are under excessive heat warnings
- The Pro Farmer Crop Tour gets underway in the US this week
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Soybean futures rose to the highest since July in Chicago as hot weather grips the US growing region, raising concerns about crops.
Parts of states including Iowa, Illinois and Nebraska — large corn and soy growers — are under excessive heat warnings, the National Weather Service website showed Monday. While it can be notoriously hot from mid- to late August, temperatures for the areas are expected to break numerous daily and potentially monthly records, it said.