CME Grain Futures Pressured by Improved Moisture in Brazil
CME soybean futures began the new year at multi-month lows, pressured by improved moisture in Brazil and extended forecasts for additional rainfall.
The March soybeans contract slipped to the lowest level since June 30 and ended with a 24 ½ cents decline at $12.73 per bushel.
Brazil is the world’s leading producer of soybeans, followed by the United States and Argentina. The planting season in Brazil occurs from October through December, with harvest taking place in March through May...
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