Chicago soybean futures fell to a four-year low on Wednesday, pressured by bumper crop prospects in Brazil and a slide in soyoil prices after a proposed U.S. government spending bill failed to include support for biodiesel, traders said.
Chicago soybean futures sank to life-of-contract lows on Tuesday as favorable crop conditions in Brazil and weak Chinese demand for U.S. soybeans hung over the market, traders said.
Chicago corn and soybean futures seesawed on Monday as market players weighed an uptick in fund buying interest against the prospect of a bumper South American corn and soy crop, traders said.
Chicago Board of Trade (CBOT) corn and wheat futures fell back on Thursday on a stronger dollar following rate cuts by the European Central Bank, technical trading and slower-than-anticipated weekly export sales, according to analysts.
Chicago Board of Trade corn futures jumped to a five-and-a-half month high on Tuesday, after the U.S. Department of Agriculture slashed domestic corn supply forecast by more than the market had expected.
Chicago soybean futures dropped on Monday on expectations for a hefty South American crop, while corn futures rose as traders anticipated world supply and demand estimates from the U.S. Department of Agriculture will show smaller U.S. stockpiles.
U.S. soybean futures firmed on Thursday, led by strong gains in soyoil as a smaller-than-anticipated canola harvest outlook in Canada stoked worries about tightening global vegetable oil supplies.
U.S. soybean futures fell on Wednesday on favorable crop weather in South America and concerns about the incoming Trump administration's hawkish approach to trade with top importer China.