Soybean prices fell sharply least 5 weeks

Soybean prices fell sharply least 5 weeks
Soybean prices fell sharply as China cancel import contracts. There is pressure corn prices fell, while wheat prices rose.
On Floor Chicago, soybean prices fell 1.9% in March delivery down $ 14.605 / bushel, the biggest drop since the session on 12/11. But the faculty, soybean prices have increased 21% this year due to the US drought reduced output.

USDA said export orders delivered 420,000 tons of soybeans before the 1/9 has been canceled, in which 300,000 tons are exported to China. China to cancel orders raised concerns the US soybean demand will plummet.

Soybean prices also under pressure to reduce the South American weather improves. In Paraguay and Brazil will have rain in two weeks to help improve the soil, the weather service said.

Corn prices fell 0.6% in March delivery down to $ 7.2 / bushel on the Chicago exchanges. Maize prices increased by 11% this year due to the US drought as lowest corn production for 6 years. Meanwhile, wheat prices rose by 0.4% to $ 8.11 / bushel.