Soybeans were modestly lower on fund and technical selling, capping off a bearish week. Soybeans and products continued to largely ignore the crop issues and lower estimates in Argentina. It’s looking more than more likely the record crop in Brazil might not make up for the losses in Argentina as further reductions are probable with more hot, dry weather in the forecast. Argentina is normally the world’s biggest exporter of soybean products but is expected to increase imports to fill some contracts.
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