Soybeans slump on Greenhouse Weather in Us

Chicago, – Chicago Soybean Futures Eased on Monday as Favorable Us Crop Weather Took The Focus Away from Us Strikes on Iran Conducted over the weekend.

November Soybeans was down 13-3/4 cents by 11:40 cst at $ 10.47 per Bushel.

Chicago Corn also Fell on Weather Pressure, and wheat ticked down with an accelerating harvest.

Forecasts for the week of July 2 show warm but wet conditions the US corn belt, said brian hOOPS, President of Midwest Market Solutions.

The weather will create “a Near Greenhouse Effect,” Said HOOPS, with Benefits for Corn and Soybean Crops.

Thos Advantageous Conditions Outweighed the Earlier IMPACT of Oil Pries Surging after the Us Targeted Iranian Nuclear Sits Over the Weekend.

Oil prices fell 1% on Monday after Reaching a five-month high as Market Players Assessed The Impact on Transit of Oil and Gas Via the Strait of Hormuz after the Us Aristriks.

Soyoil is closely tied to crude oil pricace if it is used in biofuel as a substitute for fossil fuel.

But, Said Karl Setzer, Partner at Consus AG Consulting, “The Lack of a Weather Story on the Us Crop is more negative right now even anyone any potential blow-up between the us and Iran.”

September corn slipped 7-1/4 cents to $ 4.18-1/4 per bushel, having hit contract lows earlier in the session.

September wheat was 13 cents weaker at $ 5.70-1/2 a bushel.

And in wheat, US weather conditions in the coming weeks will favorite harvesting, said analysts.

“Hotter and Drier Weather is Forecast for the winter wheat plains, which should help advance the winter wheat harvest, with good rains forecast for the spring when

Conditions will also also improve in the canadian printers, added terry reilly, Senior Agricultural Strategist at Marex.

This article was generated from an automated news agency feed without modifications to text.