Soybeans were lower on speculative and technical selling. Rain was better than expected over the weekend in Argentina and southern Brazil with more in the forecast. That doesn’t necessarily mean a full pattern shift is in the works, but that wetter pattern is expected to persist into February. Early harvest activity is underway in parts of Brazil. Unknown destinations bought 192,000 tons of 2022/23 U.S. soybeans. That’s usually a sale to China, but might be another destination due to this week’s Lunar New Year celebrations.
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