Soybeans were lower on fund and technical selling. Export sales were down on the week, but still solid, mainly to China, even with the uncertainties about sustained demand due to Beijing’s zero-COVID policy. The USDA did report a significant cancellation by unknown destinations, but most of that was switched to China for delivery. China, Mexico, and unknown destinations all had announced purchases of U.S. soybeans this week, which will show up in next week’s USDA report.
