Commodities
Soybean Prices Fall Back Amid Modest Gains
Soybean prices are falling back on Wednesday, after posting modest gains on Tuesday. The beans traded with losses of 13 to 14 cents so far today, following sharp Monday declines.
The August contracts lost ground, but the cmdtyView national average Cash Bean price was still up 3 3/4 cents at $11.78. Soymeal futures were mixed, with some contracts down and others up by a few dollars.
Meanwhile, Soy Oil futures saw significant losses, ranging from 40 to 71 points. The decline in prices comes despite some positive news for soybean production, including improved condition ratings for certain regions of the US.