Soybeans were sharply lower on fund and technical selling, taking contracts to a weekly loss. Soybeans pulled back and liquidated with a lower move in products, including a decline in bean oil linked to losses in palm oil. Brazil’s harvest is about 70% complete and Argentina’s crop is in much better shape than this time last year. Still, there are concerns about weather issues impacting later planted beans. The USDA’s updated supply, demand, and production numbers are out April 11th, the same day as CONAB’s new outlook for Brazil.
Be the first to comment