Overnight developments - beans down heavily
Soybeans have taken up Monday morning where they left off Friday, sharply lower on concern China's imports may slow.
China, the world's biggest soybean importer, likely cut purchases of the oilseed for a second week as domestic demand lagged behind supply, Shanghai JC Intelligence Co. said on Aug. 1.
Traders may have ordered one to two cargoes of soybeans in the five days to Aug. 1 compared with as many as 20 shipments in the preceding two weeks, according to Shanghai JC.
Wilmar, China's biggest vegetable-oil supplier, lost as much as 13 Singapore cents, or 3 percent, to S$4.20, and traded at S$4.23 on the Singapore Stock Exchange.
Soybeans traded around 30c lower Monday, adding to losses of around 38-39 cents Friday.
Corn has followed beans lower closing around 22 cents lower Friday and adding another 5-6c to that so far this morning.
Wheat is still trying to divorce itself from beans & corn as it's price slide started much earlier. Wheat is currently around 2c easier on eCBOT.
China, the world's biggest soybean importer, likely cut purchases of the oilseed for a second week as domestic demand lagged behind supply, Shanghai JC Intelligence Co. said on Aug. 1.
Traders may have ordered one to two cargoes of soybeans in the five days to Aug. 1 compared with as many as 20 shipments in the preceding two weeks, according to Shanghai JC.
Wilmar, China's biggest vegetable-oil supplier, lost as much as 13 Singapore cents, or 3 percent, to S$4.20, and traded at S$4.23 on the Singapore Stock Exchange.
Soybeans traded around 30c lower Monday, adding to losses of around 38-39 cents Friday.
Corn has followed beans lower closing around 22 cents lower Friday and adding another 5-6c to that so far this morning.
Wheat is still trying to divorce itself from beans & corn as it's price slide started much earlier. Wheat is currently around 2c easier on eCBOT.
