CANBERRA: Chicago soybean futures fell on Thursday and hovered just above three-year lows as the ongoing harvest in top producer Brazil poured cheap beans into an already well-supplied market.
Corn futures rose – their fifth straight daily gain from a three-year low last week – but analysts say this is largely due to short-covering by speculative investors and plentiful supply will continue to pressure prices.
Chicago soybeans decline
Wheat also moved higher despite forecasts for large Russian production that are keeping a lid on gains.
Source: Brecorder
