Soybeans were lower on commercial and technical selling. Brazil’s soybean harvest is around 70% complete, including activity in Mato Grosso reportedly being nearly wrapped up for the season, with most projections calling for record production. Safras e Mercado sees the crop at 134 million tons, 1 million more than their last guess. The USDA’s next set of supply and demand numbers is out April 9th, including updated global projections. Export demand has slowed down, as has the pace of inspections, but domestic demand remains strong and exports are still on track to meet USDA projections for the current marketing year.
