Soybeans were lower on fund and technical selling, ensuring a negative weekly finish. Soybeans were watching the tail end of this year’s harvest in Brazil and conditions in the U.S. ahead of widespread planting. Soybean and bean meal sales were down on the week, while bean oil hit a marketing year high. China and Germany led the way on soybean sales, with a significant cancellation by unknown destinations. The trade’s waiting to see how much of an impact the reimplementation of Argentina’s soy dollar program has on trade, even with a much smaller crop, hit heavily by drought.
