Soybeans, corn lower despite crop rating losses

Soybeans, corn lower despite crop rating losses

Soybeans were lower on profit taking and technical selling. The USDA’s national good to excellent rating was only down 1% on the week, even after the record high temperatures in some areas last week. Most forecasts have continued dry weather into mid-month for the Midwest, with hotter temperatures starting this weekend. The USDA’s updated yield outlook is out September 12th. Soybean meal was lower on profit taking, while bean oil was mixed on bear spreading.

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