Soybeans were lower on fund and technical selling. The USDA raised U.S. ending stocks, mostly on slower export demand, and left production unchanged for Argentina and Brazil. CONAB did cut its guess for Brazil’s crop due to weather issues impacting yields, now seen at 146.522 million tons. Brazil’s soybean harvest is upwards of 80% complete. CONAB’s next Brazil production update is out May 14th. The Rosario Grain Exchange left its estimate for Argentina’s crop unchanged at 50 million tons.

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