Soybeans closed lower as contracts remain under pressure from the wetter-than-anticipated forecast for Brazil. Rains are expected to move in later than originally thought but now hang around into January. Love moves in soybean products, soybean meal, and oil, were also adding pressure to prices. The transportation woes, specifically the rail closures going into Mexico. Crop conditions remain in excellent condition in Argentina and more rain is expected. The Buenos Aries Grain Exchange has 69 percent of the crop planted, and just 3 percent of the crop was rated in poor condition.
