Soybeans were lower on profit taking and technical selling. Contracts are overbought as traders continue to focus on lower yield projections, with the potential for reductions by the USDA due to weather. Most forecasts have a generally dry end to August in much of the region, against heavy rainfall in some southern and southeastern areas. Earlier this month, the USDA was projecting a record yield, but that will likely change following the recent crop tours and acreage adjustments.
