Soybean futures closed lower on anticipation of good supplies in the physical as prices have improved over the last week. There is still good demand from the bulk buyers and oil millers. Moreover, higher production estimates by SOPA. 

CBOT soybean lower on Wednesday, as market weighed reports of heavy rains in Argentina and the U.S. dollar lost strength. Heavy rains in Argentina could wipe out 1m hectares of soy acreage in the country. However, rainfall forecasts in the month of January in the main soybean growing states of Brazil will be very beneficial for the soybean yield. 

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