Chicago soybean futures lost ground on Wednesday, snapping a six-session winning streak, as concerns over Chinese demand and expectations of a record Brazilian crop weighed on the market.
Reuters reports that wheat slid as U.S. supplies continue to face stiff competition in the international market despite a bullish outlook by the USDA.
China's African swine fever outbreak is far more severe than previously thought and the full impact of the disease on animal feed producers has yet to be realized, Archer Daniels Midland (ADM) said last month.
Brazil's 2019-2020 soybean crop, in the final phase of planting, could reach a record 122.7 million tonnes, according to the average forecast in a Reuters survey of 16 market analysts.
