Soybean prices are settling lower following higher estimates for Brazil's crop.
The March contract for soybeans ended at $14.525 a bushel Friday, down 34.25 cents or 2.3 percent.
Higher production estimates for the South American crop, which is just beginning to be harvested, were a main factor behind the decline, said Brandon Marshall, a commodity adviser with Northstar Commodity in Minneapolis.
With about 10 percent of the crop harvested, yields are coming in higher than previously expected, Marshall said. That's leading traders to anticipate that big consumers of soybeans like China may pick up more beans from South American producers instead of buying beans grown in the U.S.
Wheat ended little changed and corn fell slightly. Metals and energy contracts were mixed.
Doug Giles - Here’s Why Islam Wants Our Heads -- In THEIR Own Words
How did the FBI manage to “lose” Sharyl Attkisson’s file?
Concealed Carry: What To Do When Stopped By The Police - Bearing Arms - Concealed Cary, Video
Adam Baldwin: What's justice versus 'climate justice'?
The Myth of "4 Million Conservative Voters Stayed Home in 2012" | RedState
Obama’s plan hatched at Columbia University says classmate
- What Is Your U.S. Income Percentile Ranking?