Soybeans Retreat from 2-Month High

AI Summary

Soybean futures prices declined below $12 per bushel after reaching a two-month high, influenced by improved weather conditions in the US Midwest. Strong export demand also affected prices, with USDA reporting significant new-crop soybean sales exceeding market expectations.

Soybean futures fell below $12 per bushel, easing from a two-month high reached on July 15 as improving weather prospects across the US Midwest outweighed stronger-than-expected export demand. The USDA reported net new-crop soybean sales of 1.769 million metric tons for the week ended July 9, well above market expectations, with more than 1 million ...