Soybean Futures Add to Losses as Brazil's Soybean Harvest Nears Completion

Soybean futures on the Chicago Mercantile Exchange (CME) remained under pressure Wednesday, extending their string of lower closes to six straight days.

Through Wednesday afternoon, the most actively traded July contract lost about 6.4% since climbing to a multi-week top on April 18. July soybeans closed at $14.14 ¾ cents per bushel Wednesday, the lowest settlement level for that contract since October 27. However, soybean futures held above their lows made in late March.

Traders are monitoring Brazil’s soybean harvest, which is nearing completion. According...

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