Soybeans were sharply lower on profit taking and technical selling, with most months registering losses of about $.30 to $.60. Contracts corrected, despite a neutral to bullish supply and demand report Wednesday. The USDA left the old crop balance sheet unchanged, but there’s some sentiment the USDA is underreporting ending stocks, and new crop ending stocks are only expected to be a little bit larger, and that doesn’t wrap up until the end of August 2022.

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