Soybeans were lower on fund and technical selling, in addition to higher trade in the dollar. Brazil is expected to produce a record crop, which could cancel out losses in dry southern growing areas of that nation and Argentina. The Buenos Aires Grain Exchange reports 8% of Argentina’s soybean crop is in good to excellent condition, 2% less than a week ago, with 82% of the crop planted, slower than normal. CONAB’s updated outlook for Brazil is scheduled for Thursday, January 12th.
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