SINGAPORE- Chicago soybeans edged lower after hitting a seven-month peak in the previous session, although losses were capped by concerns that dry weather could curb US crop yields.
Corn slid for a third straight session, pressured by a crop tour forecast for higher yields in parts of the US Midwest.
“There are pockets of dryness which is a cause of some concern,” said one Singapore-based trader at an international company that ships beans to China. “Overall, US should have a decent crop, so on the supply front there will not be any major issues.”
The most-active soybean contract on the Chicago Board Of Trade lost 0.1 percent to $9.13-1/2 a bushel, after hitting a Jan. 22 high of $9.19-1/2 a bushel on Wednesday. – Reuters