Soybeans started the day higher, but a turnaround in the Dow Jones and US Dollar Index put on the pressure and contracts couldn’t hold on to their gains. Soybean prices continue to get hammered by concerns about slowing global economies. Soybean meal also closed lower for the fourth time in the last five days. Weather looks favorable to help bolster harvest activity. Soybean harvest is running behind the 5-year average. Some Southern states have a good start on harvest while states like Illinois and Iowa are just getting underway. Markets are also under pressure from South America, as Brazil could see a record crop with decent growing conditions.
