# Chicago soybeans shed gains on harvest pressure - Markets - Business Recorder

> Chicago soybean futures fell on Thursday, giving back the previous session's gains as harvest supplies from the US and South America weighed. The most-active CBOT soybean contract was down 0.18% at $9.89-4/8 a bushel, with corn and wheat also slightly lower. USDA raised its Argentina 2024/25 soybean production forecast to 52 million tons and confirmed private sales of US soybeans to China.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27879-chicago-soybeans-shed-gains-on-harvest-pressure-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Heavy harvest availability in the US and South America keeps soybean and meal supply comfortable, which is bearish for feed input prices. Confirmed China purchases offer modest support.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40329977

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.