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Down day for soybeans, corn, and wheat

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Soybeans were lower on commercial and technical selling. 76% of Brazil’s record soybean crop is harvested, helping them hold a huge share of the export market. Argentina’s government has reimplemented the soy dollar program to incentivize farmers to increase selling and exports, even with a much smaller crop due to drought. Stateside, the trade has an eye on corn planting delays in some areas, which could prompt some farmers to switch to soybeans. Losses in May soybeans were limited by a solid near-term demand outlook.

Down day for soybeans, corn, and wheat