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CHICAGO- US soybean futures fell for a second straight session on Friday as rains were seen boosting harvest prospects in some dry areas of the Midwest farm belt.
Wheat futures fell on profit-taking and spillover pressure from lower soybeans, although concerns about global supplies limited declines.
Corn was lower much of the session but closed firmer on end-of-week positioning and concerns that rains would only be beneficial for a small share of the crop that is maturing later than normal.
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“There were good rains overnight and more rain in the forecast for Iowa and Minnesota.
That’s going to help late-filling corn and soybean crops in that area,” said Brian Hoops, president of Midwest Market Solutions.
