U.S. soybeans falls to another 4-year low on record crop outlook


Investing.com -

Investing.com - U.S. soybean futures fell to a fresh four-year low for the second consecutive session on Tuesday, as ongoing expectations for a record U.S. harvest weighed.

On the Chicago Mercantile Exchange, U.S. soybeans for November delivery declined 0.29%, or 2.98 cents, to trade at $10.2563 a bushel during U.S. morning hours.

The November soy contract fell to a session low of $10.2388 earlier, a level not seen since September 2010.

A day earlier, soybean prices lost 1.22%, or 12.6 cents, to end at $10.2920.

Soybean traders piled on to bearish bets after the U.S. Department of Agriculture estimated this fall's U.S. harvest would reach an all-time high of 3.82 billion bushels on August 12.

Meanwhile, U.S. corn for December delivery dipped 0.24%, or 0.88 cents, to trade at $3.6713 a bushel amid expectations of record yields across much of the U.S. grain belt.

Corn prices fell 1.08%, or 4.0 cents, on Monday to settle at $3.6740.

Prices fell to a four-year low of $3.4800 a bushel on August 12 after the USDA estimated the corn harvest at 14.03 billion bushels, which would break last year's record of 13.93 billion.

The agency also said it expected average corn yields of 167.4 bushels per acre, above an all-time high of 164.7 in 2009.

Elsewhere on the CBOT, U.S. wheat for December delivery inched down 0.11%, or 0.6 cents, to trade at $5.5400 a bushel.

Prices of the grain slumped 1.38%, or 7.6 cents, on Monday to end at $5.5440.

Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

This article appears in: Investing , Forex and Currencies

Referenced Stocks:



More from Investing.com:

Related Videos



Most Active by Volume

  • $15.549 ▼ 1.28%
  • $6.99 ▲ 48.09%
  • $10.42 ▼ 5.36%
  • $111.55 ▲ 1.87%
    $5.68 unch
  • $13.395 ▼ 0.48%
  • $27.77 ▲ 2.17%
  • $28.035 ▲ 0.02%
As of 10/9/2015, 01:58 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com