Soybeans were lower on profit taking and technical selling but did manage a decent week-to-week gain. Beans gave back some post-USDA report gains, while watching U.S. harvest activity and weather in South America. Stateside, the trade was expecting the USDA to report generally good harvest progress in Monday’s weekly numbers, while the USDA’s next set of supply and demand estimates is out November 9th. Unknown destinations bought 117,300 tons of 2023/24 U.S. beans Friday, along with 100,000 tons of 23/24 bean meal.
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