On June 27, according to media reports, CBOT soybean futures fell on Tuesday, but the decline was limited, after a previous report showed that the crop rating in the Midwest of the United States fell to the worst in decades, raising concerns about global supply.
Data released by the U.S. Department of Agriculture (USDA) showed that the U.S. soybean and corn crops deteriorated to their worst levels in decades as key producing areas missed much-needed rain.
The poor growth ratings could fuel fears of irreparable damage to U.S. crops at a time when the world needs a bumper harvest to replenish food reserves.
Commodity funds were net buyers of Chicago Board of Trade soybean, corn, soymeal and soyoil futures contracts on Monday, and net sellers of wheat futures, traders said.
