Soybean Market Update (Jun 28, 2017)

Soybean prices in the international market increased into a fourth consecutive sessions. The most active soybean contract on Chicago Board of Trade increased to 0.1 percent to $9.12 – 1 / 4 a bushel, which was firmed by 1.2 percent the day before. July soybeans ended up 4-1/2 cents at $9.11-1/4 a bushel. Earlier, 67 percent of the U.S Corn and Soybean crops were rated from its good to excellent conditions by the USDA but now Soybean ratings have fallen to 66 percent of the crop which is again rated good to excellent.

Analysts reported that, they expected the government to slightly increase its estimate of U.S. 2017 corn plantings and shorten the soybean plantings figure. Rain estimations across U.S. corn and soybean growing regions has encouraged crops. 

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