Soybeans were lower on profit taking and technical selling, cementing a lower weekly finish. Most forecasts had at least some rain in parts of South America and generally good U.S. harvest conditions. Still, there are uncertainties about rainfall coverage and totals for Argentina and Brazil that won’t be answered until after the event and planting has been delayed, likely leading to increased reliance on U.S. beans by China into early 2021. Reports say Brazil wants to temporarily waive import fees for soybean and corn imports from outside of the Mercosur trading bloc.

…