Soybeans Slip on Weak China Demand, Brazil Supply
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Soybean futures dropped to $11.42 per bushel, marking a second consecutive session of losses due to weak demand from China, the largest importer, which was inactive during a holiday. Prices had previously surged to a two-month high following comments from U.S. President Trump about potential increases in U.S. soybean purchases by China. However, the absence of confirmed deals and increased supply from Brazil, the leading producer, added to the downward pressure on prices.
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