SINGAPORE- Chicago soybean futures fell for a third consecutive session on Tuesday as rains in parts of Brazilian crop-growing regions pressured prices, although losses were capped by strong demand for US supplies.
Wheat also retreated, falling for three of four sessions as the market was weighed down by bumper production in Australia and Canada.
“Brazil has had some rains which are weighing on the soybean market but parts of Argentina are still dry,” said a Singapore-based trader.
“For wheat, we have big crops in Australia and Canada. Asian buying is a bit slow as of now but there will be a round of purchases before the year-end.”