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US soybean and corn futures fell as traders liquidated positions ahead of USDA planting intentions and quarterly stocks reports. Wheat also declined amid a firmer dollar and broad commodity weakness, with the November soybean contract dropping below $12 a bushel.
Pre-report position squaring is driving prices lower, but expectations for expanded US corn and soybean plantings and tight March 1 stocks could support prices once reports are released. Dollar strength is adding pressure to grain export competitiveness.
financialpost.comReutersMar 30, 2021Not 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.
Broad liquidation in soy complex ahead of USDA reports and quarter-end, with a firmer dollar, weighed on prices at the end of the window.
