Dismal losses tied to corn numbers

Soybeans, meal and oil all closed lower mainly because of spillover pressure from corn, but there’s also harvest pressure noted in soybeans. The soybean quarterly stocks, at 215 million bushels, are below expectations, so the number was actually neutral to friendly. DTN says that actually limited downside in soybeans, but sharply lower corn futures made any soybean recovery unlikely. Harvest reports seem to indicate solid soybean yields in the Western Corn Belt so far. Exports reported this

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