(Bloomberg) -- Soybeans fell in Chicago, capping
the biggest two-week drop in three years, on speculation U.S.
oilseed processors are shunning record reserves in anticipation
of cheaper supplies when a new crop is harvested in September.
Midwest supplies on cash markets are selling for $1 a
bushel less than futures traded in Chicago, and the price gap
has almost doubled in the past year, U.S. Department of
Agriculture data show. Cash bids at loading facilities in New
Orleans yesterday were 21.25 cents below futures, compared with
a 28.4-cent premium a year ago.
Read more at Bloomberg Commodities News
the biggest two-week drop in three years, on speculation U.S.
oilseed processors are shunning record reserves in anticipation
of cheaper supplies when a new crop is harvested in September.
Midwest supplies on cash markets are selling for $1 a
bushel less than futures traded in Chicago, and the price gap
has almost doubled in the past year, U.S. Department of
Agriculture data show. Cash bids at loading facilities in New
Orleans yesterday were 21.25 cents below futures, compared with
a 28.4-cent premium a year ago.
Read more at Bloomberg Commodities News
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