date:Oct 16, 2012
e plant a new soy crop. The weekend rains, combined with a likely increase in rains this week in northwestern areas, should significantly improve soil moisture for corn and soybean germination and early growth, private forecaster MDA EarthSat Weather said in a weather note Monday.
Technical signals for soybeans are also weak, weighing on prices.
Despite many managed funds exiting their bets on higher soybean prices, funds still have a sizable net long position that gives more room for soybean