Soybeans were modestly lower on profit taking and technical selling, with contracts overbought after the recent gains. The trade is watching the planting pace in South America and harvest activity in the U.S. Brazil is now about 25% planted and the U.S. harvest is running ahead of average but is expected to see some delays this week. Demand is solid and farmers in Argentina continue to hold onto beans to fight inflation, limiting losses. No new export sales were announced Tuesday, but the overall pace of both sales and physical shipments is well ahead of last marketing year, largely due to demand from China.

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