Soybeans were lower on fund and technical selling. Planting and development weather looks generally favorable in much of the Midwest and Plains. Weekly old crop export numbers were bearish. Old crop sales were just 600,000 bushels, sharply lower than last week, mainly to Mexico and unknown destinations, with a big cancellation by China. New crop sales were somewhat better at 24.4 million bushels, primarily to unknown and China. Soybean meal was lower and bean oil was higher adjusting spreads.
Wheat complex extends losses
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