Soybeans were lower on fund and technical selling. Soybeans were up early, but couldn’t follow through, with sharp losses in bean meal and crude oil. Part of the losses were also tied to uncertainties about demand from China. That’s a two-fold issue, with Chinese economic concerns linked to COVID lockdowns and potential further retaliation over Speaker of the House Nancy Pelosi’s recent visit to Taiwan. China has reportedly canceled some U.S. soybean purchases in response to the visit.
