Chicago Board of Trade (CBOT) agricultural futures traded lower on Monday morning, with soybeans slipping double digits as Brazil has sped up harvest.
The Brazilian soybean harvest has reportedly reached 26 percent completed, compared with the five-year average of 12 percent at this time.
As of 1712 GMT, CBOT soybeans for March delivery were down 10.25 cents to 9.0425 U.S. dollars per bushel. March wheat was down 4 cents at 5.1325 dollars per bushel. March corn was down 2 cents at 3.7225 dollars per bushel.
On Monday morning, the U.S. Department of Agriculture confirmed that private exporters reported export sales of 248,000 metric tons of hard red winter wheat for delivery to Nigeria and Egypt during the 2018/2019 marketing year.
Private exporters also reported sales of 120,000 metric tons of soybean meal for delivery to Ecuador. Half is for delivery during the 2018/2019 marketing year and the other half during the 2019/2020 marketing year. Enditem