US: Down day for corn, soybeans, and wheat

Soybeans were lower on profit taking and technical selling, unable to follow through on the early gains. Crop weather remains mixed in Brazil, too dry in some areas, too wet in others. 51% of Brazil’s soybean crop is planted, compared to 57% a year ago, with delays for that crop having at least some impact on second crop corn planting. U.S. harvest activity could officially be wrapped up in some key growing areas by next week. China bought 110,000 tons of 2023/24 U.S. beans, the second day in a row with an announced sale for a running total of 236,000 tons. The USDA’s attaché in China sees 2023/24 soybean imports at 100 million tons, down from 2022/23 due to a higher carry in, but with an increased domestic soybean crush as China tries to meet livestock feed needs. China’s customs data says October soybean imports by China were 5.16 million tons, under expectations, but up 25% on the year due to the arrival of delayed shipments from Brazil. Soybean meal was higher and bean oil was ...