Soybeans were lower on profit taking and technical selling. The USDA’s good to excellent rating held this week, but probably won’t hold next week. Forecasts for this week remain hot and the region could remain generally dry into early next month. Given just how tight ending stocks projections are for the new marketing year, any loss of yield would probably prompt higher prices and demand rationing. The USDA’s next set of supply, demand, and production numbers are out September 12th and will include an acreage resurvey for some states.
