Soybeans were mixed, with nearby months up and deferred contracts down on bull spreading tied to demand expectations. It was an up and down day for beans after Friday’s USDA numbers, which were neutral to bearish. More private firms have lowered their outlooks for Brazil as harvest moves forward. It’s very early, with the harvest around 2% complete, nationally. CONAB’s updated outlook for Brazil and the USDA’s next round of supply, demand, and production numbers are both out February 8th.
