Soybean futures see sell off


U.S. corn and soybean futures fell sharply last week, pressured by outlooks for rain and cooler temperatures in the Midwest crop belt, as well as spillover weakness from broad-based selling in the commodities sector, Reuters reported.

“Front-month CBOT soybeans plunged 8.2% on Thursday for a drop of $1.18-3/4 per bushel, which I believe is the largest daily decline in history,” said Karen Braun of Reuters. “The contract has shed 15.8% in the last seven sessions. … Front-month soybean futures on Thursday dropped to their lowest levels since Jan....

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