May 29th, 2012

Soybean futures rose for a third straight session on speculation that unusually hot, dry weather may prompt U.S. farmers to reduce the number of acres planted in fields where winter wheat has been harvested.

Record heat, little rain and windy conditions eroded soil moisture in much of the southern Midwest and Mississippi River Valley during the past three days, World Weather Inc. said in a report. Rains beginning May 31 may not provide enough coverage to prevent increased crop stress from warmer temperatures next week, the private forecaster said.

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