CBOT Soybean Futures Tumble on Favorable Weather Forecasts

Soybean futures at the Chicago Board of Trade (CBOT) took a hit on Friday, weighed down by favourable weather forecasts in the Midwest.

Rain is expected to fall across key soybean growing regions over the weekend, which will aid crops as they approach the pod-setting development stage.

The U.S. Department of Agriculture reported flash sales of 252,000 tonnes of soybeans to unknown destinations, putting additional pressure on prices.

Corn and wheat futures also felt the impact of good U.S. weather, with sharp declines in wheat another bearish influence.