Soybeans set their first weekly gain since August after the US lowered its harvest

In the trading session on October 13, 2023, soybean prices in Chicago fell, set for the first weekly increase since August after the US government lowered its US production forecast by more than analysts expected. ants. Corn and wheat prices also fell. Both are set to end a week with few changes. The most traded soybean contract on the Chicago Board of Trade (CBOT) fell 0.2% to 12.87-1/4 USD/bushel, but increased 1.7% compared to Friday's closing price. before. Corn prices fell 0.2% to $4.95/bushel and wheat prices were 0.1% lower at $5.71/bushel. The US Department of Agriculture (USDA) in a monthly report on Thursday forecast the US soybean harvest at 4.104 billion bushels, 42 million bushels less than predicted in September and 30 million bushels less than estimated. average of analysts. USDA also forecasts soybean production will decline and ending soybean inventories will stabilize at September levels. For corn, USDA forecast a harvest of 15.064 billion bushels, 37 ...