Soybeans were higher on commercial and technical buying. The USDA says the 2021 crop was record large at more than 4.4 billion bushels, with domestic ending stocks up on the month. The lone change to the domestic balance sheet was that increase in production, with no adjustments to exports or crush demand, but with a big jump in the average estimated farm price. World ending stocks were down, with reduced expectations for South America. The USDA now has Argentina at 46.5 million tons and Brazil at 139 million, also lowering exports for Argentina while leaving Brazil unchanged.

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