Soybeans were sharply higher on commercial and technical buying. The USDA’s national good to excellent rating declined again last week and there are concerns about yield. Most near-term forecasts have continued dry weather in portions of the southern Plains against heavy rainfall in portions of the Delta, limiting moisture during pod filling and delaying early harvest activity, respectively. The USDA’s FSA cut planted area this week, which would also have an impact on yield. Domestic crush margins are solid, supporting soybean products, and China bought 110,000 tons of new crop U.S.
