Soybeans were modestly lower on fund and technical selling. Most forecasts have at least scattered rainfall this week in parts of Argentina and southern Brazil, but totals could be low and coverage should be spotty. Any losses in Argentine production are expected to be canceled out by Brazil. CONAB’s updated outlook for Brazil is scheduled for this Thursday, one of several reports out, including the preliminary 2022 U.S. soybean and corn production totals. U.S. soybean export inspections topped 1.4 million tons, a little bit less than the previous week, but above last year with the overall pace on track to meet USDA expectations.
