CBOT soybean futures closed lower on Tuesday, primarily pressured by technical selling. Last week's selling spree caused technical damage to the market, dampening speculative funds' interest in building long positions. Bearish supply-side factors continued to weigh: Brazil's soybean production is expected to hit a record high, and market expectations point to a significant increase in U.S. soybean planting area this spring. Meanwhile, Brazil's National Association of Grain Exporters (ANEC) lowered its March soybean export forecast to 15.87 million tonnes, below its previous projection. In the short term, market attention is focused on the possible announcement of renewable fuel blending obligations following Friday's meeting with biofuel producers, as well as the month-end Planting Intentions report. The main U.S. soybean futures contract is expected to trade in the 11501170 cent range.