Soybeans were lower on fund and technical selling. 73% of U.S. beans are rated good to excellent, up 1% on the week, going against the seasonal trend, with development ahead of average. Near-term crop development weather generally looks non-threatening, but some areas do need rain, including most of Iowa, along with parts of several other states. StoneX, formerly INTL FCStone, sees this year’s crop at 4.496 billion bushels with an average yield of 54.2 bushels per acre, assuming normal frost dates and using the current USDA harvested area estimate.

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