Soybeans were modestly lower on profit taking and technical selling after Wednesday’s modestly higher move. Beans continue to wait for signs of improved demand from China, with weekly export numbers out Friday. Beijing isn’t expected to start issuing one-year tariff waivers until early March. Conditions look non-threatening to favorable in South America, with Brazil’s harvest ongoing and most analysts projecting record production. A higher move in the U.S. dollar and lower moves in the currencies of Argentina and Brazil have hurt export demand, along with the continued spread of coronavirus in China.
Continue reading Modest losses in corn, soybeans, and wheat at Brownfield Ag News.
