Soybeans were higher on commercial and technical buying, but still ended the week sharply lower. Beans and products were oversold and most forecasts do show hot, dry weather in many growing areas during key phases of development. The USDA’s next round of production projections is out July 12th. The International Grains Council sees the 2022/23 world soybean crop at 390 million tons, compared to the last guess of 387 million and the 2021/22 total of 351 million tons.
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