News

Soybean Futures Fall On Wet Forecast For Argentina

Soybean Futures Fall On Wet Forecast For Argentina

Photo: clipart.com

Spencer, IA: (Jan. 21, 2014) – Soybean futures fell sharply Tuesday and to a two week low as rain in parts of Argentina later this week is expected to improve crop prospects.

Rain and cooler temperatures are expected by Thursday. The showers will also boost crop prospects in Brazil, according to traders.

Prices also declined on speculation that exportable soybean supplies will soon be available from Brazil, meaning China will likely cancel purchases from the U.S. in favor of lower-cost South American supplies.

Grains Analyst Larry Glenn said, “Some of those beans we sold to China – they can switch those. It’s that time of year, so it shouldn’t surprise us.”

Local Headlines

yesterday in Local

Okoboji City Attorney Retires

courtnews1240

A longtime city attorney for Okoboji has retired...

yesterday in Local

Erratic Driver Drug Arrest

News Arrest1240 1

A report of an erratic driver leads to the arrest of a Gilmore City man...

yesterday in Local

Law Enforcement Reports

lawenforcement1240

Law Enforcement Reports...

yesterday in Local

Hillshire Fire Cause

fireback

A welding accident is being blamed for the fire...

yesterday in Local

Avenue of Flags Submission Deadline

Americanflag1240

This is the 50th year for the Avenue of Flags...