Soybeans were lower on fund and technical selling. Contracts gave back Tuesday’s gains and then some with pressure from lower moves in crude and palm oils, along with soybean products. Those losses can be linked to the recent bearish Chinese economic data and concerns about the potential for U.S. and global recessions, all of which would impact demand for U.S. soybeans to some degree. Near-term weather looks favorable for most of South America ahead of an expected return to a drier pattern in most of Argentina.
