Soybeans fell for a second day, trimming the year’s advance, as forecasts for rain in Argentina eased concerns that crops in the world’s third-largest grower and exporter will be damaged by drought. Soybeans for March delivery slipped as much as 0.5 percent to $13.70 a bushel on the Chicago Board of Trade before trading at $13.725 at 10 a.m. Manila time. Futures have climbed 31 percent this year. A cold front may cause scattered light-to-moderate rainfall in soybean and corn-growing areas in Argentina around the middle of next week, Accuweather.com said in a forecast yesterday. “Rains early next month may revive oilseeds before plants begin to set pods and fill them with beans,” Ker Chung Yang, an analyst at Phillip Futures Pte., said in a report today. Futures jumped to a 28-month high of $13.9675 a bushel on Dec. 28 on concern that dry weather in Argentina will spread to parts of Brazil, hurting crops and curbing global supply. U.S. export sales of soybeans and soybean meal probably fell in the week ended Dec. 23, while soybean oil sales likely grew, according to a Bloomberg survey. The U.S. Department of Agriculture will release the export sales report at 8:30 a.m. in Washington today. The spot-basis bid, or premium for soybeans shipped this month to terminals near New Orleans, yesterday dropped to 66 cents to 78 cents a bushel over January futures traded in Chicago, down from 67 cents to 78 cents a day earlier, USDA data showed. January-delivery soybeans fell for a second day, losing 0.3 percent to $13.6175 a bushel. Corn Premium The premiums for corn delivered in December at Gulf of Mexico ports fell to 40 cents to 42 cents a bushel above March futures yesterday, compared with 42 cents a day earlier, according to the USDA. Corn for March delivery lost 0.5 percent to $6.21 a bushel in Chicago. The most-active contract has gained 50 percent this year. U.S. exporters sold 120,000 metric tons of corn to Mexico for delivery in the marketing year that began Sept. 1, the USDA said. Exporters also sold 120,000 tons of soybeans to China for shipment in the marketing year that begins Sept. 2011, the agency said. Wheat for March delivery lost as much as 1.3 percent to $7.8875 a bushel, before trading at $7.925. To contact the reporter on this story: Luzi Ann Javier in Manila at ljavier@bloomberg.net To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net

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