Analyst: Soybean futures are falling, weather conditions are favorable for Brazil to achieve a "massive" crop harvest.

AgResource stated in a report that oversupply is the main driving factor for grain futures. The company said: "With Brazil's soybeans about to experience a massive harvest, soybeans and soybean meal face the biggest downside price risk." It is expected that rainfall will keep Brazilian crops adequately hydrated. Although there is drought in the southern region of the country, "crop pressure is limited due to sufficient soil moisture." AgResource pointed out that the soybean growing season will end at the end of next month, "and basically there is no weather threat." The company stated that early harvest data shows a record-breaking trend in yields, with production expected to exceed 184 million tons. Soybean futures fell by 0.3% on the Chicago Futures Exchange.