Harvest numbers are rolling in lighter, the farther north we go, but total harvest will still be huge.”
Crop forecasts from firms like Informa Economics, INTL FCSTone and Allendale Inc. in recent days have also pressured soybean prices. November-dated CBOT soybean futures closed down 18 3/4 cents, or 1.8%, at $10.10 a bushel. The forecasts sapped soybean market momentum after the contracts last week received a boost from surging soybean meal prices, driven higher by livestock producers buying more to cover shortfalls after railroads failed to deliver the feed ingredient on time.