National Ag News

Soybeans were modestly lower on commercial and technical selling. The USDA raised estimates for U.S. ending stocks and South American production, along with the export guess for Brazil. The import estimate for China was also up on the month. Even if the supply is growing, demand should stay solid, which helped pull contracts off of the lows. Soybean meal was higher and bean oil was lower on the adjustment of product spreads. The USDA’s new soybean production estimate for Brazil is above CONAB’s current 110.2 million tons, which was also updated Tuesday.

Continue reading Soybeans, corn down, pressured by USDA numbers at Brownfield Ag News.