Forecast for South American rainfall pressures soybeans

Soybeans were lower on profit taking and speculative selling. Also, the dollar was mostly higher and crude oil was sharply lower with U.S. demand at a 15-year low. Past that – weekly export numbers were good but as of Friday afternoon, there was more rain in the weekend forecasts for Argentina and southern Brazil. Soybean meal and oil were lower on spillover from beans and the possibility of at least some rebound in South America’s crop. The International Grains Council sees the global

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