Soybeans, corn down, focused on harvest activity

Soybeans, corn down, focused on harvest activity

Soybeans were lower on profit taking and technical selling, ending the week in lower territory. The trade is waiting for widespread U.S. harvest activity with the possibility of further yield reductions. Even if yields don’t decline from current projections, the domestic supply of soybeans is tight and will likely only get tighter, unless there’s significant demand rationing. The USDA’s next round of yield and production estimates is out October 12th. Brazil continues to control the export market and could produce another record crop.

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