Soybean sags for sixth straight session

Soybean futures fell Tuesday, deepening losses for the sixth straight day, as investors await signs on a recovery in China's demand following the signing of the phase-one of the trade deal on January 15.

Investors also fear the impact of the deadly coronavirus outbreak in China and other countries on global demand for agricultural commodities.

China revealed the virus' death rose to more than one hundred and infected more than 4,800 victims, hundreds of whom are in critical condition.

The USDA reported yesterday that US soy exports fell to 1.039 million tonnes in the past week as expected, vs. 1.206 million tons in previous data.

Soybean March futures lost 0.2% to close at $8.95 a bushel, after hitting a session-high of $8.98 and a low of $8.88.