CBOT soybean futures closed lower on Wednesday as the market focused on ample global supplies and concerns over U.S. soybean export prospects. Anec, Brazil's national association of grain exporters, stated that Brazil's soybean exports in March are expected to reach 16.1 million tonnes, higher than the 15.7 million tonnes exported in the same period last year. Although a strong harvest in South America is anticipated, the overall pace of harvesting is slower than in previous years. The upcoming USDA Export Sales report is expected to show U.S. soybean net sales between 300,000 and 1.1 million tonnes for the week ending February 28. Recent positive macroeconomic news continues to emerge, with attention focused on the resistance level of 1,180 cents per bushel for CBOT soybean futures.