Investing.com - U.S. soybean and corn futures declined for the second consecutive session on Monday, amid speculation beneficial weather in the U.S. Midwest will speed up the pace of the harvest.
On the Chicago Mercantile Exchange, US soybeans for November delivery lost 9.77 cents, or 1.03%, to trade at $9.4163 a bushel during U.S. morning hours.
Prices of the oilseed tumbled 14.6 cents, or 1.53%, on Friday to end at $9.5160.
Updated weather forecasting models called for mostly dry conditions across the Midwest over the next 10 days, which should allow farmers to accelerate the pace of the harvest.
According to the U.S. Department of Agriculture, approximately 40% of the U.S. soy harvest was completed as of October 12, compared to the five-year average of 53% for this time of year.
The agency is scheduled to release its crop progress report later in the session.
Meanwhile, US corn for December delivery traded at $3.4463 a bushel, down 2.98 cents, or 0.86%.
Corn futures slumped 4.2 cents, or 1.21%, on Friday to settle at $3.4800.
Nearly 24% of the U.S. corn harvest was completed as of last week, below the five-year average of 43% for this time of year.
Elsewhere on the CBOT, US wheat for December delivery shed 7.53 cents, or 1.46%, to trade at $5.0788 a bushel, tracking weakness in corn.
Prices of the grain rallied to a five-week high of $5.2220 on Friday.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.