Tuesday, July 17, 2007

Soybeans Plunge as Rains Expected to Boost Crop Prospects in U.S. Midwest

(Bloomberg) -- Soybeans plunged to a two-week low
in Chicago, heading for the biggest two-day drop in two years,
as rains in the Midwest improved prospects for the U.S. crop.

Some fields from Iowa to Ohio may receive as much as 2
inches (5 centimeters) of rain in the next four days, said Mike
Tannura, meteorologist for T-Storm Weather in Champaign,
Illinois. Farms from Minnesota to Illinois got as much as 3
inches since yesterday, the National Weather Service said.


Read more at Bloomberg Commodities News

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