Reading Time: 2 minutes Chicago soybean futures turned lower on Tuesday, as weather forecasts called for Brazil's dry crop belts getting some much-needed rainfall in the coming days.
Wheat futures rose on a technical bounce
Good export demand also underpinned soybeans
CBOT long liquidation saw the net long position in soybeans dip
Traders waited to see whether beneficial rains will arrive in dry areas of Brazil
Pea, barley carryout estimates raised, lentils cut in half
Surge in Canadian dollar weighed on Prairie cash prices
China may buy a couple more cargoes of U.S. soy for next-year delivery: analysts
Corn and wheat futures also traded lower
The new president pledged "shock" measures to fix the country's economic crisis
Wheat and corn futures advance