Soybeans were sharply lower on commercial and technical selling. Quarterly stocks were down on the year, but above expectations, with slower than a year ago fourth quarter usage. That as-of-September 1st figure essentially serves as the initial carryover guess. The USDA also made an upward revision to the 2020 production total. This year’s harvest is ongoing, with near-term rain delays expected in parts of the Midwest and Plains into early next week. That’s expected to be followed by a drier pattern.
