Soybeans were modestly lower on fund and technical selling, capping off a bearish week. There was more influence from world vegetable oil prices and lower domestic cash basis bids by soybean processors. There’s not much evidence, but there is more talk about processors importing beans from Brazil because of their price advantage. U.S. planting is ahead of average and development conditions generally look good. There’s at least some expectation the USDA will report higher than expected planted area in the next acreage update.

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