Soybeans were steady to modestly lower. Beans continue to monitor forecasts for improved rain in Argentina and southern Brazil. That should help boost conditions for later planted beans. Drought caused planting delays in those portions of South America last year, so this could represent about half of the crop in Argentina and southern Brazil. Harvest is in the early stages in Brazil and will likely be delayed to some extent in most of Argentina. With much better conditions in the rest of the nation, Brazil remains on track to produce a record large crop, which might not fully close the U.S.
