Chicago Board of Trade and Commodity Weather Group LLC

Commodity Weather Group LLC: Weekend rain was less than expected across parts of the Midwest, and drier weather in the next 10 days will expand crop stress to about 25 percent of the region, Commodity Weather Group LLC in Bethesda, Maryland , said in a report. Cool temperatures will help avert serious damage if precipitation expected late next week arrives, the company said, according to Bloomberg. Soybean futures for November delivery rose 2.2 percent to close at $11.0775 a bushel at 1:15 p.m. on the Chicago Board of trade, the biggest gain for a most-active contract since May 21. The oilseed has climbed 5 percent from a 45-month low of $10.55 on July 23 and Soybean futures rose the most in nine weeks on concern that dry weather forecast into August will curtail yields in the U.S., the worlds biggest grower. Corn rose, while wheat fell. People want to see a widespread Midwest rain before pressing the soybean market after this years price slump, Dan Cekander , the director of grain-market analysis at Newedge USA LLC in Chicago , said in a telephone interview. Soybean yields are determined by August rain. (news.financializer.com). As reported in the news.