Soybean and Corn Market Reacts to China's Purchases, Weak USD/BRL; Corn Hits Lowest Price Since 2020

Recent market activity in soybeans and corn has seen significant movements, with China buying 30-40 cargos of soybeans from Brazil. Brazil farmers have been active sellers due to the weak USD/BRL relationship. Corn prices have plummeted to their lowest since November 2020, with significant losses in both corn and soybeans. Traders are engaging in various options trades in the soybean market, with a focus on put spreads and call options.