Dollar strength pushes soybeans, corn, wheat lower

Dollar strength pushes soybeans, corn, wheat lower

Soybeans were sharply lower on fund and technical selling. There was another round of pressure from the broader market and concerns about inflation. The Dow Jones Industrial Average was down for much of the session but did close in positive territory. Unknown destinations bought 396,000 tons of U.S. beans, the third announced sale this week for a running total of 827,000 tons, all for delivery this marketing year, which started September 1st. The big question is sustained demand from China, with recent COVID lockdowns in some major cities and economic issues potentially impacting U.S.

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