Soybeans were sharply lower on commercial and technical selling. The USDA’s supply and demand numbers last week were neutral to bearish, palm oil was lower heading into the session, and bean oil was down. China and Bangladesh both bought U.S. soybeans. Bangladesh picked up 110,000 tons, half for 2020/21 and half for 2021/22, and that purchase of 132,000 tons for 2021/22 delivery by China was the first outright sale to Beijing since January 27th. Weekly export inspections were down on the week and the year, with Indonesia and Mexico the top destinations.

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