Soybeans were modestly lower on fund and technical selling. Brazil is expected to make good harvest progress this week and 83% of Argentina’s crop is rated fair to excellent. Both countries are expected to see generally beneficial near-term rainfall. The USDA’s updated supply and demand estimates are out March 8th, with CONAB’s new outlook for Brazil set for the 12th. Export sales were up on the week, but lower than average at 5.9 million bushels.
