Soybean futures fell amid dry weather and weak export data.
November Soybean futures flattened out ahead of a critical three-day holiday weekend, as traders booked profits following a strong overnight session. The market is shifting focus from acreage data to yield potential, making upcoming weather forecasts highly pivotal. Hot and dry conditions have dominated recently, but attention now turns to July and August, the key moisture-sensitive months for crop development. Additionally, weekly export sales disappointed the market, coming in below expectations across the board. Old crop soybeans hit a marketing year low of just 42,000 metric tons, falling well short of trade estimates. New crop sales also underperformed at 183,000 metric tons, leaving traders with much to digest when they return from the break.
November Soybean futures flattened out ahead of a critical three-day holiday weekend, as traders booked profits following a strong overnight session.
The market is shifting focus from acreage data to yield potential, making upcoming weather forecasts highly pivotal.
Hot and dry conditions have dominated recently, but attention now turns to July and August, the key moisture-sensitive months for crop development.
Additionally, weekly export sales disappointed the market, coming in below expectations across the board.
Old crop soybeans hit a marketing year low of just 42,000 metric tons, falling well short of trade estimates.
New crop sales also underperformed at 183,000 metric tons, leaving traders with much to digest when they return from the break.