GRAINS-Soybeans sag to near 2-week low as U.S. crop impresses scouts

jueves 25 de agosto de 2016 15:25 GYT
 

* Soybeans fall on big U.S. crop outlook

* Southern Minnesota soybeans look above average, corn stressed

* Eastern Iowa corn yields above average, soy counts steady (Adds closing U.S. prices, crop tour findings)

By Rod Nickel

WINNIPEG, Manitoba, Aug 25 (Reuters) - Chicago soybean futures slid for a third consecutive session on Thursday, giving up 3 percent to their lowest since mid-August, as a widely watched crop tour reported bumper prospects across the U.S. Midwest.

Corn and wheat lost ground for a fourth session in a row, amid expectations for huge global grain supplies.

The annual four-day Pro Farmer Midwest Crop Tour observed on Thursday soybean crop prospects in southern Minnesota that were above average, and in line with last year. Soybean potential in eastern Iowa looked on par with recent years.

Late on Wednesday, the tour reported above-average soybean pod counts in Illinois and the western portion of Iowa.

"I think the beans have a long way to go on the downside," said Bill Biedermann, manager of Allendale Inc's Crystal Lake, Illinois brokerage branch. "You've got fundamentals, technicals and bigger picture stuff all saying that unless something crazy happens, (lower) is the path of least resistance."   Continuación...