CHICAGO, April 28 (Xinhua) -- Soybean futures in the Chicago Board of Trade fell for the second straight session on Tuesday due to the wet weather forecasts. Corn and wheat both rose slightly.
Soybean future for July delivery fell 14 cents to 9.83 U.S. dollars per bushel. July corn gained 2.75 cents, closing at 3.835 dollars a bushel. July wheat was up 2.5 cents, settled on 5.22 dollars per bushel.
Soybeans continue the downward trend from Monday, pressured by concerns of an acreage shift from corn to soybeans as weather delays continue in the eastern corn belt.
The weekly crop progress report released on Monday showed corn planting at 22 percent last week compared to the five year average of 28 percent and last year's same week plantings of 9 percent, which was considered to be bullish to corn.
Weather also remains a factor in wheat with improved moisture levels in the central and southern Plains bringing an improvement on Monday's Crop Conditions Report, according to which winter wheat in 18 states was rated 45 percent good to excellent and 27 percent poor to very poor, a little improved from the previous week.
The ideas that the spreading swine flu would reduce grains consumption continued to weigh on the soy market, said analysts.
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