Soybeans were modestly lower on profit taking and technical selling. Export demand continues to be slower than expected, especially from China, even with the U.S. discount to Brazil. The political tensions over several subjects between the U.S. and China are playing a significant role in trade. Brazil’s ANEC raised its’ estimate for that nation’s July soybean exports by about 750,000 tons to nearly 8 million tons. The USDA’s weekly export sales numbers are out Thursday, while updated supply, demand, and production estimates are due Friday.

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