Soybean Sell-Off

I have no idea what has caused the selling of soybeans this morning. This does not appear to be a fundamentals-induced sell-off, unless it is a phenomenon of the broader financial markets. In fact, weather in the grain belt continues to hamper planting operations, with only 2% of corn having been planted at a point in the crop year when 12-20% is typical. Ground in the grain belt is still wet, and more rain is expected by the end of this week, with additional rain systems developing. This will hamper corn planting, but could possibly hamper even soybean planting at some point. That would be very bullish for grain prices.

Wheat prices are relatively stable to slightly down, and corn prices are down also, but only slightly.

But does the reason matter? No! The market told me to sell, so I sold!