Fall continues for soybeans and corn

Soybeans were lower on fund and technical selling, ending the week solidly in the red. Soybeans and products continued to liquidate positions, with pressure from tighter domestic crush margins and slow export demand due to Brazil’s dominance. CONAB’s updated outlook for Brazil is scheduled for May 11th, with the UDSA’s updated supply, demand, and production report set for May 12th. Any concerns about Argentina’s crop or U.S. planting delays were in the background. Argentina will probably become a bigger deal once harvest gets underway, as producers there also contend with rampant inflation impacting prices.

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