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Weather forecast pushes soybeans, corn lower

Soybeans were sharply lower on speculative and technical selling but closed towards the middle of the day’s range after the initial drop. Most near-term forecasts have a cooler, wetter weather pattern in much of the region, potentially boosting yield prospects. The USDA says 58% of U.S. soybeans are in good to excellent shape, down 1% on the week, with 93% blooming, matching the five-year average, and 74% at the pod setting stage, compared to 77% on average.

Weather forecast pushes soybeans, corn lower

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