Soybeans were mostly lower on spread trade and profit taking. Contracts started higher but could not follow through due to the bearish weekly old crop export sales numbers and the lower move in soybean meal. Old crop export sales were below a week ago at 9.8 million bushels, with Egypt and Indonesia topping the list, and with a net cancelation by both unknown destinations and China. Shipments were a little bit above what’s needed to meet USDA projections for the current marketing year, but global demand for U.S.
