# AgDay Markets Now: Rich Nelson Says Funds Sink Soybeans Pricing in Trendline Yields - AgWeb

> Soybeans made new lows on Tuesday, reaching levels not seen in three years, as funds sold aggressively. Rich Nelson of Allendale said the selling priced in trendline yields, with forecast rains for the eastern Corn Belt expected to offset western deficiencies. A slump in soybean oil also weighed on the complex, and export pace trailed last year for old and new crop.

- Date: 2024-07-10 · published 2024-07-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11197-agday-markets-now-rich-nelson-says-funds-sink-soybeans-pricing-in-trendline
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Fund selling and weak export pace add bearish pressure on soybeans and soybean meal, while soybean oil weakness reduces crush value. Corn and wheat exports running ahead of last year suggest they are less vulnerable.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- CORN: neutral
- WHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-14 | 5 | -7.2% | -3.3 | Aggressive fund selling priced in trendline yields, with soybean oil weakness and a slow export pace adding pressure. |

## Sources

- agweb.com: https://www.agweb.com/markets/market-analysis/agday-markets-now-rich-nelson-says-funds-sink-soybeans-pricing-trendline-yi

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.