Soybeans were modestly lower on profit taking and technical selling. Beans followed the lead of bean meal, which was down after its recent round of contract highs. Domestic soybean meal demand is strong and crush margins remain in positive territory. Soybean oil was up on an oversold bounce and a higher move in palm oil ahead of the U.S. session. Argentina continues to be a bullish background factor with recent rainfall doing little to alleviate expectations for a significantly smaller crop this year.
