Soybeans were sharply lower on profit taking and technical selling, giving back a chunk of last week’s gains. Most forecasts have rain in dry parts of Argentina and Brazil over the next couple of weeks, but coverage and totals are uncertain and some areas will still have to contend with high temperatures. While the rain should help speed up the planting pace, harvest could be delayed a couple of weeks, which would lead to further Chinese reliance on U.S.
