Soybeans were lower on fund and technical selling. It was an up and down day for beans, with occasional support from the tight domestic supply. Near-term planting and development conditions generally look beneficial, but the crop isn’t fully planted yet and harvest is months away. The trade expects the USDA to eventually report a higher than initially projected acreage total as producers try to meet demand expectations and bolster that supply. The USDA might not update planted area until August’s reports.

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