As per reports and information from our sources,Soybean futures for March delivery were down 41 cents per bushel at the close on the Chicago Mercantile Exchange, battered by news of half-point interest rate hike in China and rumors that China, the biggest customer of US soybeans, had turned to Brazil for some purchases.The market already had a negative mindset on news from the US Department of Agriculture that soybean exports were off the 58 percent the week of Feb. 4-10 from the previous week.News that China raised interest rates to fight inflation plus talk of a large Brazil harvest ahead helped to pressure the market early.
Soybean futures for March delivery were down 41 cents per bushel at the close on the Chicago Mercantile Exchange,..