Commodity News
HeadLine : Soybeans fall to near 10-month low on USDA harvest report
Date : Oct 5 2021
U.S. soybean futures fell for a fourth straight session on Tuesday and hit their lowest level in nearly 10 months, as the U.S. Department of Agriculture (USDA) said farmers were ahead of market expectations in their harvesting. The most active soybean futures on the Chicago Board Of Trade Sv1 were down 0.3% at $12.32 a bushel, the lowest since December 2020. Soybeans closed down 0.9% on Monday. The U.S. corn harvest was 29% complete as of Sunday, the USDA said in a weekly crop progress report on Monday, ahead of the five-year average of 22% and matching the average estimate in a Reuters analyst poll. The U.S. soybean crop was 34% harvested, the USDA said, ahead of the five-year average of 26% and the average analyst estimate of 32%. U.S.-China trade tensions weigh on soybeans. U.S. Trade Representative Katherine Tai pledged she will press Beijing over its failure to keep promises made in former U.S. President Donald Trump's trade deal. 

Source: Nasdaq
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