CBoT soybean prices lose more than 1% this morning

The CBoT soybean futures prices fell more than 1% this morning after the USDA yesterday judged the crop conditions better than the market had expected.
The United States Department of Agriculture rated 72% of the corn and soybean field holdings in the United States as "good-to-excellent". Market participants had only expected 69%. The agency's experts thus increased the likelihood of a large soybean harvest in the USA.
The USDA also confirmed further US soybean export orders to China and Mexico. The daily reports only have to be submitted for daily closings of more than 10,000 tons to the day. Yesterday it was the tenth day in a row that such reports came. Most of it goes to China.
The US dollar exchange rate continues to hover around its two-year low as investors worry about the economic consequences of the corona crisis.

Hansa Terminhandel GmbH
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