A market analyst is not surprised corn and soybean futures lost some steam this week.

Arlan Suderman with StoneX says from a technical standpoint, the trade is driven by computers that are trading momentum.

“We had gone up, particularly in soybeans with corn following, we had gone a great deal of distance without a major correction in the market. So we were in an overbought situation and were vulnerable to a significant correction.”

And fundamentally, he tells Brownfield South American weather is less threatening as the Brazil soybean harvest gets underway.

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