© Reuters. Soybean plantation in Luziânia, Goiás 02/09/2023 REUTERS/Adriano Machado
CHICAGO (Reuters) – Futures on the Chicago Board of Trade fell on Tuesday with profit taking after hitting multi-month highs on Monday.
There was still fundamental pressure from advancing harvesting of what is likely to be a record soybean crop in Brazil, traders say.
The March contract fell 5.25 cents to $15.375 a bushel, a day after hitting $15.555, the contract’s highest since June 13.
Futures closed lower in largely technical trade as investors across markets worried about a global recession, traders said.
The March corn contract fell 2.75 cents to $6.8225 a bushel after hitting $6.8825, the highest since Jan. 31, in early moves.
(Reporting by Julie Ingwersen)