Soybeans were lower on fund and technical selling. Near-term weather looks a little drier for Brazil, which should help their harvest speed up and hit the export market that much faster. Brazil’s export group ANEC projects February soybean exports at 8.3 million tons, with March exports potentially as large as 12 million to 13 million tons. The record crop in Brazil is expected to cancel out the anticipated losses in Argentina. CONAB’s updated outlook for Brazil is out March 9th.
