Trade Issues, Weather Conditions Cause Soybean Market Collapse

Yesterday’s soybean market collapse was the largest one day drop in decades. July soybean futures closed $1.18 3/4¢ lower at $13.29 ½, August soybean futures finished $1.07 lower at $12.95 and new crop November soybean futures closed 90 1/2¢ lower at $12.52 3/4. Analysts site rain forecasts in the drier areas of the Midwest as well as China’s rejection of DDGS containers around Christmas time as two primary reasons. Sellers have been leery to ship DDGS to China because of the risk which has backed up supplies and rain forecasts have caused prices to go up. Get a more in-depth breakdown of yesterday’s final prices and market events.