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Soybeans Slide in Post-Holiday Markets

Weakness in futures attributed to improved U.S. crop weather, uncertainty about demand

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U.S. soybean futures fell about 1% and set a three-week low on Friday, pressured by relatively ample U.S. stockpiles as traders shrugged off support from strong weekly export sales. According to a report at Reuters, analysts attributed the weakness in futures to improved U.S. crop weather and uncertainty about demand for U.S. soybeans, given large carry-over supplies from the 2018 harvest and the ongoing trade dispute with China, the worldโ€™s top soy importer.

The declines in futures came after the U.S. Department of Agriculture reported export sales of U.S. soybeans in the latest week at more than 1 million tonnes, the largest weekly total in three months.

Read the full report at Reuters.

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