CBOT soybeans fell to their lowest level in nearly four years as rainfall helped crop growth

Gold Ten Futures, July 9, according to foreign media reports, on Monday, the Chicago Board of Trade (CBOT) soybean futures closed down, with the base period closing down about 2.7%, the lowest since November 2020, because the rain brought by the hurricane will help crop growth, soybean exports remain sluggish. Traders said that the November period closed below the $11 mark. The recent spate of hail, torrential rain and catastrophic flooding in parts of the western corn belt will only cause damage to crops in individual areas, rather than cause large-scale problems. According to the weekly crop progress report released by the US Department of Agriculture after hours, as of July 7, the US soybean pod setting rate was 9%, compared with 3% a week ago and 8% in the same period last year. The five-year average progress was 5%. Soyabeans were 68 per cent good, up from 67 per cent a week ago and 51 per cent a year earlier, up from 67 per cent forecast by analysts before the report.