US soybeans fall as Argentine supply competition persists

US soybean futures fell in early Asian trading on Wednesday, pressured by competition from Argentina exports, while wheat retreated after touching a 10-week peak in the previous session.

Corn also pulled back after hitting a one-week high on Tuesday on slower-than-expected progress in the US harvest.

Soybeans near three-week low on supply outlook; wheat, corn slip

Fears of a global recession as central banks continue to tighten monetary policies to combat inflation, also weighed on the market, with the US Federal Reserve widely expected to hike rates by 75 basis points later in the day.