Soybeans Falling Lower on Wednesday AM Trade

Core Insights - Soybean futures experienced a decline of 8 to 11 cents in the front months, with a closing drop of 2 to 4 cents on Tuesday as traders reacted to Chinese purchases [1][2] - The USDA reported a total of 792,000 MT of soybeans sold to China, with additional reports indicating that China purchased at least 14 cargoes, potentially reaching 20 cargoes [2] - The USDA's Crop Progress report indicated that 95% of the US soybean crop has been harvested, slightly behind the average pace of 96% [3] Market Performance - Soybean futures closed lower, with January 26 closing at $11.53 1/2 (down 3 3/4 cents), March 26 at $11.60 1/4 (down 3 cents), and May 26 at $11.67 1/4 (down 2 3/4 cents) [3] - The national average Cash Bean price decreased by 4 cents to $10.80 3/4 [1] Crop Estimates - Brazil's soybean crop is estimated at 177.7 MMT, reflecting a reduction of 0.8 MMT from previous estimates [3]