The soybean complex closed sharply lower on the day. Russian – Ukrainian peace talks drove the market downward as it could mean more sunflower oil and other products become available to the global market. U.S. soybean export sales were solid last week and Monday; traders are anxious to see higher soybean export inspections to match. Private Brazilian soybean production estimates are continuing to fall, giving U.S. soybeans more opportunity on the global market. Demand remains a positive for the market despite widespread COVID related shutdowns in China.
