Soybeans were able to shake off some of the pressure from Friday’s report and end the day mostly higher. The USDA is projecting a record crop of 4.51 billion bushels. There was also some support from strength in soybean oil and early Monday, the USDA announced a sale to Poland for the 2022/23 marketing year of 100,000 metric tons of soybean meal. A very atypical sale. The market will definitely look to the Crop Progress and Conditions reports from the USDA for planting progress updates.
