what knocked the crap out of soybean futures

[dak7]

Looked this morning and appeared soys were heading higher.
Checked the close and Nov soy down -.43

Did I miss some news?

[boarderbloke]

I believe, one or maybe more weather forecasters changed their outlook, now calling for rain/showers near term, also less heat forecast for the "I" states. Even though Nebraska will mostly be in the 100's. Nobody is forecasting heat for the east cornbelt.

[furrowtickler]

I top dressed my beans today - that will do it lol

[HappyFarmer]

My 2 cents......beans WANT a weather rally so bad. Massive fund longs in beans with not a lot of areas that have problems right now. Everyone is on edge. It's going to be a interest month to say the least.

[boarderbloke]

This morning soyoil up, beans netural, soymeal down, and Canola down hard!

yesterday, crush margines were, $123.40/t , I guess that's just not enough profit so they have to drop the price some more.

[farming101]

For a little perspective, remember that SX16 was $8.70 on Mar 1.

While the rally has been beat down, an uptrend is still in place. August weather will decide.