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Soybeans, corn and wheat fell on fund and technical selling, with several contracts reaching new contract lows. Soybean export sales hit a marketing-year low after large cancellations, and US corn shipments remain ahead of last year.
Fund liquidation and weak export sales keep prices under pressure, while favorable South American weather limits support. Feed buyers can expect continued softness until fund positioning changes.
brownfieldagnews.comFeb 23, 2024Not 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.
Fund and technical liquidation pushing contracts to new lows on the prior session likely carried momentum into Monday's sharp drop.
