Soybeans were modestly lower on fund and technical selling. The USDA says this year’s harvest is 20% complete, compared to 15% on average, and aside from some rain, good conditions expected in many areas over the next several days, which is expected to allow progress to hit the halfway mark soon. There is limited potential for freeze damage in northern areas. Mexico bought 100,000 tons of 2020/21 U.S. beans. Starting October 1st, demand from China is expected to slow because of the weeklong Mid-Autumn Festival.

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