Soybeans take a hit
Category: Oilseeds
(Des Moines Register) – Soybeans are off 15 cents per bushel to $12.54 as trading neared its close Monday on the Chicago Board of Trade.
Market watchers said a strong dollar and what appears to be good growing conditions in Brazil, the leading competitor to the U.S. as a soybean producer, sparked the selloff.
“Good weather for planting in South America and for harvest in the US plus ideas that last week’s rally was a bit overdone helped to spark some early selling pressures,” the Board of Trade said in morning commentary.
Corn is up one-half cent to $6.40 per bushel.
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