# Soybeans down on profit taking - Brownfield Ag News

> Soybeans eased on profit taking and technical selling, giving back part of Monday's gains. China bought 119,000 tonnes of new-crop US beans, and soybean meal fell while bean oil rose on product spread adjustments. Key growing areas face flooding or drought even as the USDA projects a record crop.

- Date: 2016-08-16 · published 2016-08-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11872-soybeans-down-on-profit-taking-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Chinese buying provides a floor under soybean prices while the record crop outlook caps gains. Lower meal and higher oil reflect spread shifts that affect the cost of protein feed.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-profit-taking-2/

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