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Soybean futures fell sharply on speculative and technical selling as Argentina's rain came too late for some areas, while Brazil's harvest progressed well with a large crop expected. Corn and wheat also declined on technical and speculative selling, with Kansas City wheat pressured by Plains rain.
Improved South American harvest prospects and weekend rain in the US Plains add supply expectations that weigh on grain prices, though Argentina's late-season damage limits the downside.
brownfieldagnews.comMar 19, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Describes the sharp soybean futures drop on speculative and technical selling, with Argentine rain arriving and a large Brazilian harvest, which matches the timing and direction of the move.
Reports soybean futures fell sharply on speculative and technical selling as Argentina's rain came too late for some areas and Brazil's large harvest progressed, directly describing the selloff.
Says Kansas City wheat was pressured by Plains rain and technical and speculative selling, which fits a supply-relief and sentiment-driven drop.
