US: Soybeans decline with corn, wheat mixed

Soybeans were lower on fund and technical selling. Planting and development weather looks favorable in most of the Midwest, with generally warm, dry conditions in the near-term forecast. The critical test for beans will be weather during the pod filling stage this summer. Old crop export sales were below average and new crop sales were very light. Germany and Japan led the way on old crop, with a cancellation by unknown destinations, while Mexico and Taiwan were the reported new crop buyers against a cancellation by Japan. The final quarter of the current marketing year for soybeans, and corn, starts June 1st. Soybean meal and oil exports were up sharply on the week, with the U.S. filling at least some of the void left by Argentina. Argentina’s drought-stricken crop is now 78% harvested. Soybean meal futures were down and bean oil was up on the adjustment of product spreads.Corn was mixed on bull spreading. Corn is watching U.S. planting weather, including much needed rain in ...