Soybeans, corn see more pressure from Brazil rain – Voice Of Muscatine



Soybeans, corn see more pressure from Brazil rain

Soybeans were lower on fund and technical selling. Recent rain should help Brazil’s soybean crop, but some damage was done by dry weather earlier in the season. Early harvest activity is underway in some areas of Brazil with generally disappointing yields. CONAB and the USDA will release updated projections later this week. Safras e Mercado lowered its outlook for Brazil’s bean crop to 158.2 million tons. Soybean meal was lower, following beans. Soybean oil was mostly higher on bull spreading.

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