Soybean prices fell again Tuesday as traders expect a record U.S. crop in the fall.
Favorable growing conditions for U.S. producers are putting downward pressure on prices. Traders are widely expecting this year's soybean crop to outstrip demand.
The actively traded November contract for soybeans lost 9 cents to settle at $11.16 a bushel. It was the seventh straight day of declines for soybeans.
Soybeans traded as high as $12.43 a bushel on June 26.
Todd Hultman, a grains and beans analyst at DTN, said the U.S. government estimated June 30 that U.S. growers have planted 84.8 million acres of soybeans, suggesting a record high crop of 3.8 billion bushels.