Soybeans were steady to mostly modestly lower on spread trade and profit taking. Beans gave back some recent gains, still watching the weather, with concerns about stress during key development phases. Central and western U.S. growing areas are expected to see hot, dry conditions in the coming weeks. Soybeans will need a trend-line yield or better to ensure enough beans to meet strong demand expectations. The 2020/21 and 2021/22 marketing years are both expected to end with historically tight carryover.

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