Soybeans were lower on profit taking and technical selling. Contracts saw a slight correction, still watching demand and weather in South America. Most forecasts have only scattered near term rain for parts of Argentina and Brazil, with the potential for increasing pockets of dryness into the end of the month. According to Chinese grain trade company COFCO, a fatal accident at a crush facility in Argentina operated by the company caused “irreparable damage”, shutting the plant during an ongoing investigation.
