Soybeans were sharply lower on fund and technical selling, with the May contracts at a more than nine month low. Commodities generally responded to another drop in the broader market on coronavirus concerns. Unknown destinations bought 123,500 tons of 2019/20 U.S. beans Monday morning, but Brazil’s beans still have a price advantage over U.S. supplies. Even as the U.S. dollar has dropped, the Brazilian real has also declined and is near historic lows against the dollar.
