Chicago soybean futures turned lower on Tuesday, as weather forecasts called for Brazil's dry crop belts getting some much-needed rainfall in the coming days.
Wheat futures rose on a technical bounce
Good export demand also underpinned soybeans
Fertilizer companies are already dealing with lower profits as prices sag
Traders waited to see whether beneficial rains will arrive in dry areas of Brazil
Aviation is seen as one of the few routes to increase ethanol demand amid rising electric vehicle sales
China may buy a couple more cargoes of U.S. soy for next-year delivery: analysts
Mild Prairie weather contributing to lower feed demand
Corn and wheat futures also traded lower
Wheat and corn futures advance
Wheat futures plummeted; corn pressured by spillover weakness