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U.S. soybean futures fell more than 2 percent on profit-taking after a three-day rally, with the decline tied to lower vegoil prices and rain forecasts for Argentina. Trade concern also rose after Donald Trump's nominee for EPA chief, Scott Pruitt, raised doubts about support for ethanol and biodiesel, and renewable fuel credits fell sharply.
Brazil's crop agency estimated a record 102.45 million tonne soybean crop.
Lower soyoil prices and expected South American supply weigh on soybean and meal values, while doubts over biofuel policy add downside risk to vegoil demand.
jamestownsun.comReuters MediaDec 8, 2016Not 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.
