USA: Soybeans stay subdued as focus shifts to Fed decision

Chicago soybean futures edged down on Tuesday as lower-than-expected U.S. crushing data and favourable crop conditions in Brazil hung over the market while investors turned their attention to a U.S. interest rate decision. Corn futures were steady, underpinned by expectations of tightening U.S. supply, while wheat eased. A firm dollar .DXY weighed on grains, making them more expensive overseas. The dollar was supported by the view among some traders that the U.S. Federal Reserve will on Wednesday suggest it will lower borrowing rates only gradually next year. “The macroeconomic environment has become a more bearish headwind for agricultural money flows ahead of tomorrow’s important (Fed) policy decision,” Peak Trading Research said in a note. The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.1% at $9.80-3/4 a bushel by 1028 GMT, adding to losses from Monday. The U.S. soybean crush declined in November from an all-time high in October and fell ...