Soybeans were lower on commercial and technical selling, pulling beans to a lower weekly finish. The USDA raised production and new crop ending stocks outlooks following June’s upward revision in acreage. Old crop U.S. and world ending stocks were up on the month. Globally, the USDA did raise the old crop production and export guesses for Brazil and the old crop import outlook for China, all by 2 million tons each. Now, attention turns to trade relations with China and U.S.

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