Soybeans were modestly higher on short covering and technical buying. Soybeans also had some help from the higher move in meal, which continues to respond to the solid domestic crush demand. Still, export demand for U.S. meal has slowed down, with the world’s largest exporter of soybean products, Argentina, producing a much larger crop this year. Soybean oil was mixed, adjusting spreads. The trade continues to monitor harvest activity in Argentina and Brazil. ANEC projects Brazil’s April 2024 soybean exports at 13.74 million tons, compared to last week’s guess of 12.73 million.
Be the first to comment