Soybeans were mixed. The market continues to monitor ongoing harvest in Brazil and Argentina’s harvest pace, which is expected to be quite large. The U.S. has been able to make more planting progress this week, with an update out on Monday. But rains are starting to develop. This week’s export sales were down sharply and the prior 4-week average. Soybean meal was lower on Thursday, while soybean oil and crude oil were both higher. The USDA’s next round of supply, demand, and production numbers is out May 10th, with CONAB’s updated outlook for Brazil on May 14th.
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