Soybeans were mixed on spread trade and profit taking, still finishing the week with strong gains sparked by Tuesday’s USDA numbers. Most forecasts have good near-term rainfall in parts of Argentina and Brazil, but more will be needed. While harvest is just getting underway in parts of Brazil, widespread activity is still a few weeks away. The Buenos Aires Grain Exchange says 19% of Argentina’s bean crop is in poor to very poor condition. The International Grains Council lowered its 2020/21 world soybean production guess 6 million tons to 359 million.

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