Another round of losses in soybeans, wheat

Another round of losses in soybeans, wheat

Soybeans were lower on fund and technical selling, with several months down sharply. Soybeans and products continued to liquidate as funds shed of their net-long positions. U.S. planting is slightly ahead of average, with more delays expected in some areas in the coming days. Still, it’s relatively early to get too concerned about soybean planting and further delays in corn planting could lead to some acres getting switched. Also, there’s a significantly less bullish fundamental outlook right now as Brazil wraps up its record harvest.

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