Soybeans Sag as the Dollar’s Strength Dims US Export Outlook

Soybean futures fell in Chicago as shipping woes, a strong dollar and favorable crop weather weighed on prices.

The dilemma faced by exporters in getting recently harvested crops, especially soy, shipped out of the US via a drought-struck Mississippi River is prompting heightened worry about the oilseed piling up on farms with nowhere to go. Further, a robust greenback is denting the appeal of American commodities, as it makes them more expensive for foreign buyers.

“A firm dollar and lackluster shipping paces in the US Gulf continued to darken export prospects for US soybeans,” Farm Futures analyst Jacqueline Holland said ...