Soybeans were steady to modestly higher, coming off the day’s lows as soybean meal extended its rally. Near-term harvest conditions look mostly favorable, aside from scattered showers in some areas. Soybean meal was higher and bean oil was lower on the adjustment of product spreads. Traders are also watching planting weather in South America. Crush margins are solid and weekly export numbers were bullish. Total sales topped 50 million bushels with a big chunk of that to China, followed by Spain, but with a noticeable cancellation by unknown destinations.
