“Soybean traded lower. Could be some long liquidation going into the weekend,” Steve Freed, with ADM Investor Services, said. “Talk of Brazil and Argentina rains may have offered resistance. Noon weather maps were drier for north Brazil. Brazil could soon announce they will temporarily drop their 8 pct import tax on corn and soybeans.”
“The soybean market saw a bout of profit taking after rallying to 2-year highs,” Ami Heesch, with CHS Hedging, said. “Prices drew pressure from shots of rain across Brazil and Argentina this week, with forecasts of more rain events possible for next week. Weekly export sales were decent."