Wheat leads corn, soybeans down

Soybeans were lower on profit taking and technical selling, along with a lack of surprises in the supply and demand numbers. USDA lowered its estimate for the South American soybean crop following extremely hot and dry conditions during parts of the growing season. Brazil’s CONAB lowered its outlook for 2011/12 beans to 69.23 million tons, 3.5% less than the January guess, while lowering the export projection 600,000 tons to 31.8 million tons. U.S. ending stocks were left unchanged and while

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