Soybeans were modestly higher on short covering and technical buying. Contracts were due for a bounce, as beans continue to watch U.S. planting conditions and trade negotiations. Weekly export numbers were bearish, with no old crop sales to China. There were, however, some new crop sales, and China has yet to enact a proposed 25% import tariff on U.S. beans ahead of new talks. Beijing may eventually add that tax but will have to turn to the U.S.
Continue reading Corn, wheat drift lower, watching weather at Brownfield Ag News.
