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The Hightower Report said, “The soy complex has struggled against heavy selling this week but is finding some support this morning on the back of a gap lower to a new 3 year low in the U.S. dollar overnight. With technical and fundamentals bearish, a weaker dollar offers some hope for demand, although week after week of no China purchases is a major issue, especially if the trade war does not get resolved by fall harvest.” Amanda Brill at Total Farm Marketing said, “On Monday, the USDA will release its updated acreage report, and although a change in soybean acres from 83.5 ma is not expected, there is some wiggle room with trade estimates between 82 and 85 ma.”
