Soybeans were lower on fund and technical selling, unable to follow through on the early gains. Forecasts have moderated for parts of the Midwest and Plains, but some areas will continue to see stressful conditions. The USDA didn’t make any adjustments to the U.S. yield outlook this month but will likely lower the guess in the next couple of months. Unknown destinations bought 256,000 tons of new crop U.S. beans, the third day with an announced sale this week for a running total of 878,000 tons.
Shifting weather outlooks send soybeans lower
