Soybeans were modestly higher on commercial and technical buying. Contracts were down early, but rallied on demand, crush margins, and the strength in soybean oil, which was supported by strong global vegetable oil demand, especially palm oil. The USDA’s weekly export sales numbers are out Thursday morning. There haven’t been many splashy export sales announcements, but demand has been fairly consistent. Beans are watching the U.S. harvest and planting weather in Argentina and Brazil. Brazil’s government is reportedly clearing roadblocks put in place in protest of the results of this past Sunday’s presidential election.
