Por Renee Hickman
CHICAGO, USA, Oct 28 (Reuters) – Chicago soybean futures fell on Monday as crude oil prices fell and harvest pressure also dragged down corn, market analysts said.
* Corn also fell due to uncertainty over the outcome of the US elections, when Republican Donald Trump and Democratic Vice President Kamala Harris are tied in the polls of undecided states before the November 5 elections.
* Wheat futures weakened after rain eased some concerns about drought in the U.S. wheat-producing Great Plains and signs that Russian export prices may be stabilizing.
* The most active soybeans in Chicago were down 8.50 cents at $9.7925 per bushel at 1654 GMT.
* CBOT corn fell 4 cents to $4.1125 a bushel, while wheat fell 7 cents to $5.62 a bushel.
* The weakness in the soybean market was largely an indirect effect of Monday’s decline in the energy market, said Mike Zuzolo, president of Global Commodity Analytics.
* Oil prices fell about $4 a barrel on Monday after Israel’s retaliatory attack on Iran over the weekend spared oil and nuclear facilities and did not disrupt energy supplies.
* In wheat, increased rainfall in the US hard red winter wheat belt is expected to reduce grain dryness over the next 10 days and weeks, according to Commodity Weather Group.
(Reporting by Renee Hickman; contribution by Michael Hogan in Hamburg and Naveen Thukral in Singapore; Spanish editing by Javier López de Lérida)
