Soybeans were modestly lower on fund and technical selling. It was an up and down day for beans, with some influence from the recent mostly lower move in world vegetable oils and lower cash basis bids in parts of the U.S. The trade is also monitoring U.S. planting and development conditions, waiting to see if there’s a bump in acreage as some analysts are expecting. The USDA’s next set of supply, demand, and production numbers out June 10th could provide some planted area clues, but any significant adjustment would likely wait until August.

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