Soybeans were modestly lower on profit taking and technical selling. 95% of U.S. beans are harvested and near-term conditions in South America generally look favorable. Long-term, there are concerns about yield loss from the emerging La Nina pattern. That pattern has been confirmed by Australia’s weather bureau and is expected to be relatively short-lived. China reportedly bought 3.3 million tons of soybeans from Brazil last month. The USDA’s weekly sales numbers are out Friday at 8:30 Eastern/7:30 Central.

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