Soybeans were sharply lower on fund and technical buying, posting week-to-week losses, with nearby months falling further than deferred months. Seven-day forecasts generally had more rain in the Midwest, but with only scattered precipitation in some of the drier areas of the Plains. While contracts are oversold, this is a weather market, and domestic demand has slowed down. It remains to be seen if slowdown might be due to tighter than reported supplies and not processers having the needed beans on hand.

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