Soybeans were mostly modestly higher, all buying back part of Tuesday’s losses, except for lightly traded January. Most forecasts have rain in some of the drier areas of Brazil into mid-month. Still, some damage was done earlier in the growing season and some acres were switched, with a new estimate from CONAB out Thursday. About half of the crop is in the pod setting or pod filling stage. If the lower projections for Brazil’s crop continue, that could open up some chances for the U.S.

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