The CBoT soybean prices fall to 3-week low

Yesterday and tonight the CBoT Sojabohnenfutures on a three-week low are dropped as rain fell in Argentina's growing regions and alleviates fear of crop failures.
The weather in South America will strongly influence the development of soybeans on the CBoT in the coming weeks. Brazil will probably enter a new record harvest. There are experts that topped even the already high harvest estimates because the weather forecast for the vegetation was excellent so far. Now, soybean prices are under pressure, because it has been raining in Argentina. Argentina is the world's third-largest soybean exporter after the United States and Brazil.
The Brazilian Association of soybean producers estimated the Brazilian soybean harvest 2016/17 on 101.7 million tons. Of them, 58 million tons to be exported. The fixed rate of the U.S. dollar increased the U.S. soybeans on the world market for buyers holding other currencies.
The rate of the DOLLAR rose against a basket of major currencies again on a 14-year high after the FED in the United States yesterday raised interest rates.

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