Another big day in wheat

Soybeans were mixed, with nearby contracts weak. Soybeans adjusted spreads and took profits, continuing to monitor conditions in South America. AgRural pegs production at 122.8 million tons, compared to the previous projection of 128.5 million, due to drought conditions impacting southern Brazil. Those have also affected production in Argentina and Paraguay. China bought 132,000 tons of U.S. beans, half old crop, half new crop, the seventh business day in a row with an announced sale, for a running total of 2,272,860 tons, including 1,126,000 tons of new crop.

…