Soybeans were lower on fund and technical selling, falling to multi-month lows. Soybeans are watching harvest activity in Brazil and a drier near-term forecast for parts of southern Brazil and Argentina. Domestic crush margins are solid, but export demand continues to be slow with weekly sales numbers out Thursday morning. Brazil remains in control of the world soybean market, with prices more than a dollar below U.S. prices, and Argentina is expected to resume its role as the leading exporter of soybean products thanks to a much bigger crop.
