SOYBEAN FUTURES CONTINUE TO PRESSURE SOYBEAN COMPLEX PRICES; A SHARP REVERSAL DRIVES PALM OIL LOWER

Soybean futures continued to decline following the long holiday weekend with the nearby contract down 3/4 percent and deferred contracts down a little more than 1/2 percent. Prices were pressured by technically driven selling at the 50-day moving average after failing to move above the 38-percent Fibonacci retracement…