Home » China’s Brazilian beans buy underscores world competitionSource: Sosland Publishing Co.
Recap for January 17
- Soybean futures declined Wednesday on improvements in South American growing areas and shipments of Brazilian soybeans to China, an indicator US supplies had stiff competition. Pressure from increased global supplies sent corn futures to a three-year low on Wednesday. The prompt Chicago wheat futures edged higher while all other contracts declined as the US dollar strengthened and adjacent markets exerted pressure. The March corn future dropped 1¼¢ to close at $4.42¼ per bu. Chicago March wheat edged up ½¢ to close at $5.82½ per bu, but all following months were lower. Kansas City March wheat dropped 7½¢ to close at $5.94 per bu. Minneapolis March wheat was down 10½¢ to close at $6.80¼ per bu. March soybeans dropped 21½¢ to close at $12.05¾ per bu. March…
