Soybean futures decline overnight Wednesday as the trade spate between the U.S. and China shows no signs of abating and on increased output forecasts. Soybean futures for November delivery fell 6 1/2¢ to $8.73 ¼ a bushel overnight on the Chicago Board of Trade. Soymeal futures lost $2.30 to $335.50 a short ton, and soy oil lost 0.23¢ to 28.38¢ a pound. Corn futures for December delivery lost 2 3/4¢ to $3.73 ¾ a bushel in Chicago. Wheat for September delivery declined 3¢ to $5.55 ¾ a bushel in in Chicago, while Kansas City futures fell 5 1/2¢ to $5.69 ½ a bushel.
In weather news, flash flood warnings are in effect for two counties in southern Kansas and watches are in effect for much of eastern Oklahoma and western Arkansas.
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