Soybeans were higher on short covering and technical buying. Contracts saw a bounce after the recent move to new lows, with no real fundamental backing. Near-term weather in most of the Midwest is seen as non-threatening and export demand remains slow. China has filed a WTO challenge to the most recent set of U.S. tariffs. The USDA reports 69% of U.S. soybeans are in good to excellent condition, down 2% on the week, with 65% of the crop blooming and 26% at the pod setting stage, both faster than average.
Continue reading Soybeans rally from recent lows at Brownfield Ag News.
