Soybeans were lower on fund and technical selling. Beans followed the lead of a correction in world vegetable oils, including soybean oil, canola, and palm oil. Palm oil fell on slower than expected month-to-date imports, while U.S. bean oil ran into overhead resistance earlier this week and followed through on Wednesday’s losses. There’s been some rain in northern and northwestern growing areas, but not enough to break the drought. That produced part of the pressure for canola, with some of that rain falling in Canada.

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