Chicago August soybeans fell 7.25 cents to 1,116.75 cents per bushel and November fell 6.75 cents, with soybean meal unchanged. Soybean oil's sharp decline weighed on the complex, and a forecast of 25 to 76 mm of rain across the central and eastern Corn Belt was noted.
Canola on ICE and Euronext also declined.
Weak soyoil and lower crude reduce the value of crush margins and pressure soybean prices. Rain in the Corn Belt eases weather premium, which supports the bearish tone in the oilseed complex.
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.