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Soybean & Wheat Decline, Corn Avoids Losses

May 23, 2016 at 19:40 by Vladimir Vyun

Soybean dropped today, following the decline of soybean meal. Previously, prices for soymeal were skyrocketing due to concerns about the impact of floods on Argentina’s harvest. Yet analysts though that fundamentals do not support the high prices and a correction is long overdue. Contract for delivery of soybean in July fell 1.47% to $10.585 per bushel as of 19:31 GMT on CBoT today.

Wheat declined today as well, joining the majority of commodities in the move downside. But corn challenged the bearish market trend, logging gains during the Monday’s session. Wheat was down 1.23% to $4.62 per bushel. Meanwhile corn climbed 0.82% to $3.9775 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

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