Soybeans were modestly lower on fund and technical selling. U.S. crop development weather looks mostly non-threatening, even if some areas do need rain, and planting should wrap up very soon. The USDA’s national condition rating did decline on the week, but only modestly. Weekly export numbers were neutral to a little bearish and China wants confirmation U.S. beans and meat are COVID-19 free. The USDA says that’s not an issue. Also potentially slowing demand from China is their domestic crush margins.

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