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Soybeans fell modestly on profit taking and technical selling, with soybean meal lower and bean oil higher on product spread adjustments. Weekly export sales were lower than expected, and the trade is watching dry parts of Argentina and La Nina conditions expected through the Southern Hemisphere summer.
Corn and wheat edged higher on short covering and commercial buying.
Weak export sales and lower meal prices point to softer near-term soybean demand, while Brazil's large 2017 share of China's imports keeps competition for U.S. beans high. Dry weather in Argentina is the main upside risk to soy and meal prices.
brownfieldagnews.comJan 26, 2018Not 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.
