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Soybeans, corn and wheat closed lower on profit taking, technical selling and a drop in crude oil. Attention centered on record Brazilian production, which is expected to offset Argentina's drought and frost losses.
The USDA's first 2023 planted area report was due shortly, with soybean estimates of 88.6 million acres.
Expectations of large South American supply and the USDA planting report are weighing on grain and meal prices. Lower crude oil also reduces support for soybean oil and biofuel-linked demand.
brownfieldagnews.comFeb 22, 2023Not 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.
