Soybeans were modestly lower on profit taking and technical selling, unable to follow through on the early advances. The trade continues to monitor ongoing talks with China, including the lack of an application of Beijing’s proposed 25% import tariff, and unknown destinations bought 264,000 tons of new crop U.S. beans. Weekly old crop sales were a net cancellation, after last week’s big cancellation by that unnamed buyer. Soybean meal was lower on profit taking and bean oil was nearly unchanged, consolidating.
Continue reading Grains, oilseeds can’t follow through on early gains at Brownfield Ag News.
