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November soybean futures fell about 0.6% to $9.97 per bushel on the Chicago Board of Trade, dropping below $10 for the first time since mid-September. Prices had slipped on quieter foreign buying and expectations that the next USDA crop progress report would show lower crop ratings.
Soybeans were still on track for a monthly gain of about 5%.
Softer foreign buying and expected lower crop ratings are pressuring near-term soybean futures, which lowers the cost of soybean meal and feed ingredients for buyers. The larger monthly gain and strong China demand still support prices over the longer run.
fxdailyreport.comDaffa ZakySep 28, 2020Not 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.
