Soybeans were lower on fund and technical selling, with May falling to a multi-month low. Export demand remains slow as Brazil holds a price advantage, even with recent cuts in production estimates due to yield results. The crop is much smaller than initially expected because of widespread planting delays and weather issues during some key phases of development. Reports of more U.S. imports of Brazilian beans due to that price advantage didn’t help. There’s also been talk this week, but no confirmation, of big purchases of Brazilian beans by China.
