Bearish prospects weigh on soybeans

Producers expect gradual recovery to average precipitation

Year-on-year production expected to fall by nearly 60%

Wheat output expected to recover, but import restrictions remain

US imports of vegetable oils, animal fats increase significantly

Wheat, barley and corn output projected to rise in 2024-25

Abundant rain, improved soil moisture support new crop

Could import up to 1 million tonnes of staple food grain

Favorable weather shifts projected yields higher

Falling wheat farm values contributed to drop