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Soybeans decline on profit taking, dollar strength

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Soybeans were lower on profit taking and technical selling, in addition to the higher move in the dollar during the session. There’s more rain in the forecast for Argentina, while harvest conditions generally look good in Brazil. The USDA’s next round of supply, demand, and production numbers is out March 8th, with CONAB’s updated outlook for Brazil scheduled for the 12th. Export demand is slow, with Brazil’s prices more than a dollar below the U.S., due in part to that relative strength in the dollar against the real.

Soybeans decline on profit taking, dollar strength

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