Rain Forecast in Brazil Pushes Coffee, Soybean Prices Lower.

EUROPEAN Commission; COMMODITY futures; FUTURES sales & prices; RAINFALL; PRICES; CROP improvement; COFFEE plantations

Coffee and soybean futures have dropped due to the possibility of rain in Brazil over the next two weeks. The rain is expected to improve moisture and crop conditions in key coffee and soybean producing states. Brazil's coffee industry has been affected by an extended drought, causing prices to rise. The return of rainfall could bring relief to plantations, although the extent of recovery is still uncertain. Additionally, soybean prices have fallen due to signs of better weather and a bumper US crop. The delay of the European Commission's deforestation law has also contributed to lower prices for coffee and soybean futures. [Extracted from the article]

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