The yield of CBOT soybeans is in sight, and soybeans are falling steadily

Gold Ten Futures, August 16, according to foreign media reports, on Thursday, the Chicago Board of Trade (CBOT) soybean futures closed down, with the main contract closing flat. A bumper U.S. soybean harvest is in sight, Chicago soybean oil futures fell, and technical selling was active, putting pressure on soybean prices. However, soybean export sales have improved significantly, and soybean crushing has been strong, providing strong support to the market. Analysts said that the November contract has fallen sharply by nearly $1 in the past few weeks due to concerns about a global supply glut, and some traders believe that soybean futures are technically oversold at least in the short term. Traders have been adjusting their positions for most of the time ahead of ProFarmer's annual Midwest crop inspection event next week. According to an analyst, the market generally expects record corn and soybean yields this year, so there is not enough positive news in the market to offset the negative news. According to the latest 72-hour cumulative precipitation map released by the National Oceanic and Atmospheric Administration (NOAA), most of the Midwest of the United States will receive at least some rain from Friday to Monday, and parts of the Eastern Corn Belt and Ohio Valley are likely to receive the heaviest rainfall during this period. The latest 8 to 14-day forecast shows that most of the central United States will experience seasonal dry weather from August 22 to August 28, and temperatures in the Great Lakes will be lower than normal.