Soybeans were lower on fund and technical selling. Forecasts have heavy near-term rainfall in some of the drier key growing areas of Brazil. That’s too late to help the beans planted in September but should provide some help for later planted soybeans following widespread early delays. About half of the crop is reportedly at or near the pod filling stage. CONAB’s updated outlook for Brazil is set for January 4th. Conditions in Argentina remain mostly favorable, with 75% of the crop called good to excellent and production expected to be up solidly on the year.
