Weather damage to South American soybean crops could start pushing more soybean export business to the United States and U.S. export shipments could benefit from March.
South American soybean export supplies will be smaller in calendar year 2019, The United States should benefit and raise exports beyond expectations in March-August 19.
But part of this impact is going to be neutralised by the likelihood of a downward revision in Chinese soybean imports this season.
Chicago soybeans fell on concerns over U.S.-China trade tensions while wheat and corn rose on optimism about U.S. export sales. Chicago Board of Trade March soybeans were down 0.2 percent at $9.21.