Soybeans were mixed, mostly firm, consolidating, unable to hold on to the post-USDA report gains, but well above the losses prior to those numbers. The USDA’s production guess is up on the year, but down on the month, with the average yield fractionally lower than a year ago. Soybeans will need a trend-line yield or better to meet demand expectations and limit further price inflation for end users. Old crop U.S. ending stocks were higher, while new crop held steady.
