Soybean Futures Drop Sharply

grain calls
grain calls
(Commodity Update)

Corn: 10 to 12 cents lower.

Soybeans: 25 to 27 cents lower.

Wheat: 12 to 17 cents lower.

Cattle: Steady-weaker

Hogs: Steady-weaker

November soybean futures overnight fell to the lowest levels in over a week after USDA’s weekly crop ratings didn’t show the expected decline. Corn fell from a two-month high and wheat also dropped. Malaysian palm oil futures fell 1% to lock in a fourth straight monthly decline amid growing expectations for improved production. Front-month crude oil fell more than $2. U.S. stock index futures signal a stronger open, while the U.S. dollar index is more than 200 points lower.

 

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