US Soybean futures hit one-month low on rainfall.

Soybean futures fell to the lowest point in over a month, leading a day of selling across grain and oilseed markets. Rain in the Midwest overnight added moisture to the soybean crop and pressured prices. Better growing weather for the oilseed in August, with plenty of rain and cool temperatures forecast, prompted a selloff this week. Traders are betting that soybean supplies large as a result, with U.S. farmers already sowing more acres of the crop than ever before this year. August-dated soybean futures at the Chicago Board of Trade fell 1.7% to $9.50 1/2 a bushel, closing at the lowest point since late June.