Drop in U.S. soybean futures contracts

Updated Sep 29, 2023
Soybeans fell in trading overnight as the US harvest progressed. Twelve percent of the soybean crop was harvested at the start of the week, up from 5% the previous week and above the previous five-year average of 11%, the U.S. Department of Agriculture said in a report earlier this week. About 73% were dropping leaves, up from 54% the previous week and the average of 62%, the USDA said. Half of the crop was in good or excellent condition on Sunday, down from 52% the previous week. Rain has fallen in parts of the Corn Belt, including much of Illinois and Indiana, over the past 24 hours, according to data from the National Weather Service. Precipitation was prevalent in parts of several states last week, including the Dakotas, Nebraska, Minnesota, Wisconsin and Illinois, the NWS said on its precipitation page. Still, it has been dry across much of western Kansas and Oklahoma, and parts of southern Iowa into Missouri, giving farmers the opportunity to harvest their crops. Iowa's ...
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