Soybeans were lower on profit taking and technical selling, along with higher trade in the dollar and a lower move in crude oil. China appears to be continuing its zero-COVID policy, contrary to earlier reports, which would impact demand. There’s some weekend rain in the forecast for South America ahead of a drier pattern. U.S. harvest activity is ongoing with some areas likely to wrap up in the next few says. The USDA’s next set of supply, demand, and production numbers is out November 9th, the same day as CONAB’s updated outlook for Brazil.
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