Soybeans were lower on fund and technical selling. China is reportedly locking down more cities due to COVID concerns and soybean products were lower on demand questions. U.S. weather forecasts during these later stages of development generally favor eastern growing areas over western portions of the region. The USDA says 57% of U.S. soybeans are in good to excellent shape, unchanged from last week, with 94% at the pod setting stage, compared to the five-year average of 96%, and 10% dropping leaves, compared to 14% on average.
