Grain TV: Soybeans Hammered by South American Weather
Rains in South America hammered the soybean market while corn remained relatively unchanged, moving slightly higher. While the rain event should seem to be more of a corn story, soybean’s sharp decline could stem from a lack of any major upcoming reports to keep the bulls in the market following last week’s rally.
The script many of us wrote months back continues almost word for word. The market fundamentals have performed true to prediction as has the occasional technical marker. Somewhat new to