Soybeans were modestly higher on short covering and technical buying, rallying off the overnight lows. The trade was expecting generally good week to week planting progress in many key growing areas in the week USDA numbers, but contracts were oversold after last week’s drop. As of Sunday, 60% of U.S. soybeans are planted, compared to the five-year average of 88%, and 34% have emerged, compared to 73% on average. Demand continues to be slow, weekly export inspections were bearish, and the uncertainties about China are also a factor.
Continue reading Grains, oilseeds mostly up ahead of USDA numbers at Brownfield Ag News.
