Monday, July 19, 2010

Soybeans Follow Other Grains Down on Improved Weather

There was no doubt corn, wheat and soybeans were going to plunge if wetter and cooler weather was going to arrive in time, and now that it has, the major agricultural products plunged in price today, with soybeans right behind corn in how deeply they dropped.

Of the major three, wheat future dropped the least, as other factors outside the United States, like the Russian drought, continues to play a role there.

Soybean futures for November delivery had a decline of 13 cent to $9.72 a bushel, or a 1.3 percent drop.

Corn for December delivery dropped 3.3 percent, or 13.25 cents, to settle at $3.94 a bushel.

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