Soybeans were lower on fund and technical selling. Soybeans are watching U.S. planting and development conditions, with rain in some areas in the near-term forecast, but medium-term outlooks generally have a drier pattern in parts of the region. If that forecast follows through, it could cause some early damage to this year’s crop. Brazil’s record large soybean harvest is nearly complete, with CONAB’s updated outlook scheduled for Thursday morning. Brazil’s grain group ANEC estimates May soybean exports at a record 15.35 million tons.
