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    Home»Commodities»Soy Falls Most in a Month With Improving US Weather – BNN Bloomberg
    Commodities

    Soy Falls Most in a Month With Improving US Weather – BNN Bloomberg

    July 26, 20241 Min Read


    (Bloomberg) — Soybean futures fell the most in a month as traders take profits and weather forecast show improving crop weather in the US. 

    Futures in Chicago slumped as much as 3.2% on Friday, the biggest intraday loss since mid-June. Prices climbed earlier this week, buoyed by concerns over dry, hot weather approaching growing areas of the US. 

    On Friday, the 11-15 day forecast showed fewer chances of above-normal temperatures in the crop belt and “the rain chances and amounts are much heavier than what we have seen previously,” said Matt Campbell, a risk management consultant at StoneX Financial Inc. 

    Soyoil futures fell as much as 5.4% on Friday, the most since June 2023.

    Related: AG CFTC: Net Bearish Soy Oil Bets Boosted to 3-Week High

    ©2024 Bloomberg L.P.



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