Soybeans were lower on profit taking and technical selling. The trade expects at least some corn and spring wheat acres will be switched to beans because of continued planting delays. China did buy U.S. beans last week, but the next step in negotiations is unclear. New rhetoric from China Thursday heightened tensions, but the U.S. has signaled at least some willingness to resume negotiations. The next meeting isn’t expected until the G20 in late June. The official announcement of a new trade aid package was also bearish, even with a lot of unknowns as the USDA says it doesn’t want to disrupt planting intentions, as were the weekly export numbers.
Continue reading Grains, oilseeds finish in the red at Brownfield Ag News.
