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SINGAPORE – Chicago soybean futures slid on Tuesday ahead of a key US report on planted acres, although forecasts for heat in the western US Midwest limited losses.
Corn also fell, while wheat ticked higher.
“Hot weather is a real and a longerterm concern,” said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney.
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“But we do think that the USDA (US Department of Agriculture) stocks and acreage repor t may show more acres planted in the US than expected and some traders would want to square up ahead of the report.”
