Soybeans were lower on fund and technical selling. Soybeans are watching the U.S. planting pace, expecting more near-term delays ahead of what should be a warmer, drier pattern in many areas. The trade is waiting to see how many farmers switch from corn to soybeans following this year’s widespread planting delays. The trade is also watching the varying stages of harvest activity in South America. The USDA’s next round of supply, demand, and production numbers is out Wednesday, June 12th, while CONAB’s updated outlook for Brazil is set for the 13th.
