While the government outlook sees strong global demand for soybeans, especially in China, lower U.S. livestock production and the availability of other grains for feed is likely to mean less demand in domestic markets for soybeans, at least in the short term.
Soybeans fell 21 cents to $14.315 per bushel.
Most metals are lower, with April gold losing $17.80 to $1649.10 an ounce. Silver, copper and platinum dropped as well.
Energy futures are mixed. Benchmark crude rose $1.31 to $97.03 a barrel in New York as the euro strengthened against the dollar. Wholesale gasoline fell 4 cents to finish at $3.02 a gallon.