Soybeans were lower on profit taking and technical selling. The USDA’s national crop condition rating was up slightly on the week, it remains well above a year ago, and development is ahead of average. Near-term development conditions look non-threatening as the crop moves towards August, which is a critical month for beans. Ahead of the open, China bought 126,000 tons of U.S. soybeans and unknown destinations picked up 180,000 tons, with both for new crop delivery.
