Soybeans were lower on fund and technical selling. Contracts were up early but couldn’t follow through due to the drop in crude oil and demand uncertainties. Beans continue to monitor U.S. development weather, along with the impact of COVID lockdowns in China. There have been a few USDA reports of soybean sales to China in the last couple of weeks, but the actual scale of those sales is unknown due to the recent issues with the USDA’s export sales reporting system.
