Rapid harvest progress puts pressure on CBoT soybean courses

CBoT agricultural futures courses are falling today. In the case of CBoT soybean futures, it is already the sixth of seven trading days with a decline in price because the harvest in the US is advancing rapidly.
The US soybean harvest is now 20% from the field. The 5-year mean on this date was 15%. The American Midwest is expected to remain dry until the end of this week, which favors field work.
Derivatives exchange traders who have mostly long futures positions close out their positions prior to the release of USDA's quarterly inventory development reports.
Argentina's dockworkers stopped working for 24 hours yesterday to demonstrate for better pay. This also causes the loading of agricultural raw materials to come to a standstill.

Hansa Terminhandel GmbH
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