Soybeans closed higher on short covering and technical buying. The rapid spread of the coronavirus in China is impacting markets. More than 17 thousand confirmed cases as of Sunday. There are reports several ports in China are shut down because of the coronavirus. Early yields in Brazil have been better than expected. Brazil’s soybean harvest is making steady progress at 9% complete, although behind a year ago, and is expected to bring 4.52 billion bushels of new supplies.
Corn was lower on fund and technical selling.
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