Commodities
Soy Drops to 2020 Low With ‘Excellent’ US Weather Boosting Crop
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Soybean futures fell to the lowest levels since September 2020 as US weather remained favorable, with August considered the most crucial month for establishing yields.
While rains in the Midwestern crop belt have been limited in recent weeks, a lack of threatening heat is helping to boost potential. Analysts surveyed by Bloomberg expect the US Department of Agriculture in a monthly report due Monday to raise its outlook for an already record-high soy yield.