Soybeans, corn, wheat unable to extend early gains

Soybeans were lower on fund and technical selling. More than 60% of Brazil’s expected record crop is harvested, while rain in Argentina is likely too late to help that much. Agroconsult pegs Brazil’s crop at 155 million tons, up 2 million from their prior guess, while estimating exports at an all-time high of 96 million tons. CONAB’s updated outlook for Brazil is out April 13th, with the USDA’s new supply and demand estimates scheduled for April 11th.

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