Soybeans were sharply lower on fund and technical selling. Most forecasts do have a chance of rain in dry parts of South America this weekend, and while some damage has been done, a less stressful weather pattern would generally be welcome. Still, that’s a big question mark, with several government and private entities recently lower projections for Argentina and Brazil, where it’s roughly the equivalent of mid-July for crops. The Rosario Grain Exchange has Argentina’s soybean crop at 40 million tons, compared to the prior projection of 45 million.

…