Soybean contracts sank to their lowest price in almost four years after a government report bolstered expectations for ample supplies.
In a report out Friday, the U.S. Department of Agriculture estimates that this season’s soybean harvest could reach a record 3.8 billion bushels, which is 165 million bushels higher than its estimate last month.
Soybeans sank 18 cents, or 1.6 percent, to $10.75 a bushel. That’s the lowest settlement price for soybeans since October 2010, according to the data provider FactSet.
Report Drives Soybean Prices Near 4-Year Low Leer más