World: US soybeans ease after rally

Chicago soybeans edged lower on Tuesday, giving up some of the previous session's gain that drove prices to their highest in seven weeks on concerns over US yields and Brazilian weather, reported Reuters. Wheat and corn prices eased in early Asian trade, after both markets closed higher on Monday. The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 0.3% to $10.36 a bushel, after climbing on Monday to $10.42 a bushel, the highest since Aug. 5. Wheat lost 0.1% to $5.82 a bushel and corn fell 0.2% to $4.12-1/2 a bushel. The soybean market rallied about 2.7% on Monday on worries about crop weather in Brazil, the world's top supplier, and yields from the harvest in the United States, the second-largest exporter. With the US harvest under way, market players await more harvested yield data to determine whether a hot and dry finish to the Midwest growing season impacted yields. The US Department of Agriculture (USDA) this month kept its national soybean yield ...