Soybeans were modestly lower on fund and technical selling, unable to follow through on a higher start due to Tuesday’s bearish USDA reports. The USDA is projecting record production this year, with 49% of the crop harvested as of Sunday. Some areas will see near-term harvest delays, with most of the region expected to see a return to more conducive conditions this weekend. China bought 330,000 tons of 2021/22 U.S. beans and unknown destinations picked up 198,000 tons, also for 2021/22 delivery.

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