Soybeans were higher on short covering and technical buying, rallying a little after the release of the USDA numbers. The USDA continues to project record production, but the estimate was down slightly on the month and could fall further as damage from recent weather is assessed. U.S. ending stocks were up from September and there were no changes to South American production. The USDA did raise export estimates for Argentina and Brazil, while lowering Paraguay.
Continue reading Corn, soybeans up on lower USDA crop guesses at Brownfield Ag News.
