Soybeans were higher on fund and technical buying, but still finished the week with steep losses. The trade was waiting to see what happened with the forecasted broad rainfall, while finding spillover support from the mostly higher move in bean oil. August is considered to be a more critical month for soybeans, but any rain would help with development. While overall export demand remains slow, as evidenced by the weekly numbers, Mexico did buy 228,600 tons of new crop U.S.

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