Monday, May 7, 2007

Soybean Prices Decline as Drier Weather May Boost U.S. Planting Progress

(Bloomberg) -- Soybeans in Chicago fell for a fourth consecutive session on speculation dry weather in the U.S. Midwest will help farmers get the nation's second-biggest crop planted before June, when yields begin to fall.

Dry weather prevailed from eastern Iowa to Ohio, allowing many farmers to complete corn planting after weeks of delays caused by heavy rains, said George De la Gardelle, a merchandiser for The Andersons Inc. in Dunkirk, Indiana. In the western Midwest, little rain in expected into next week, allowing muddy fields to dry and flooded fields to drain, he said.


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