CBOT soybeans tick down on Brazil harvest expectations
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Chicago Board of Trade soybean futures declined due to expectations of a record Brazilian soybean harvest, despite some support from a weaker dollar making U.S. exports more competitive. The dollar's decline is attributed to anticipated Federal Reserve rate cuts and policy uncertainty. March soybeans settled at $10.72-3⁄4 per bushel, with soymeal and soyoil also experiencing declines. Analysts noted increased farmer selling in both the U.S. and South America, with China expected to source more soybeans from Brazil in the coming months.
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