Soybeans, Corn Leak Lower Despite China Business; Wheat Rises
After two-sided overnight trade following Monday’s ag commodity plunge, soybeans and meal reacted with renewed strength after another announcement of new bean sales to China and unknown. Another combined 21 million bushels (mb) were announced as sold. However, those gains dissipated by noon, with soybeans closing almost 3 cents lower. Wheat rose on growing concern over Ukraine and Russian dryness as winter wheat planting has faced an ongoing drought situation.