Soybeans were sharply lower on profit taking and technical selling. Most near-term forecasts look warm and dry, which should help early harvest activity, and the broader markets were very bearish for commodities. The broader markets responded to coronavirus concerns and articles published over the weekend alleging extreme financial improprieties at some of the world’s largest banks. China and unknown destinations each bought 132,000 of 2020/21 U.S. soybeans and Pakistan picked up 171,000 tons, with 12th business day in a row with an announced sale for a running total of 4,710,500 tons.

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