1.   Argentina expects heavy rainfall to help produce record corn and soybean harvests, while wheat production will drop from last season, the agriculture department said.

2.   Both countries are in the middle of their soybean harvests and are able to undercut U.S. prices.

3.   A spate of storms in October and November improved planting conditions for the oilseed, relieving a two-year drought and raising prospects for a record soybean harvest.

4.   Additionally, traders expect the USDA tomorrow will forecast the second-largest soybean harvest and the third-largest corn crop on record.

5.   Early morning rains in Argentina could delay the soybean harvest, which is nearly one-third complete.

6.   In western Brazil, soybean harvests are greater per acre than in the American Midwest.

7.   Plantings suffered from a poor quality crop this summer, which discouraged farmers from sowing wheat, and from a late soybean harvest.

8.   Soybean futures also fell on profit-taking and on prospects for a large Brazilian soybean harvest.

9.   Some traders are scaling back their expectations for the soybean harvest, contributing to the price rise.

10.   Soybean futures were pressured by progress in the South American soybean harvest in near-ideal conditions.