U.S. Soybean Futures Decline Amid Brazil Harvest and China Purchase Uncertainty

U.S. soybean futures declined after a four-day rally, influenced by profit-taking and increased competition from Brazil's advancing harvest. Prices had risen following President Trump's remarks about potential increased soybean purchases by China, but skepticism remains due to high costs. Corn and wheat futures also edged lower amid ample global supplies and anticipation of the upcoming U.S. Department of Agriculture world crop report. Brazilian farmers have harvested a larger portion of their crop compared to last year, adding bearish pressure to U.S. markets.