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Soybeans bounce as corn, wheat fall further

Soybeans were higher on short covering and technical buying, pulling the pit to a firm weekly finish. Contracts were oversold and due for a bounce, shrugging off losses in soybean oil, which was down for the second consecutive session following the RVO announcement. Soybean meal was mixed early but rallied on solid demand. Soybeans are also monitoring export demand and planting and development conditions in South America. Parts of Argentina have recently received some rain, but hotter, drier conditions are on tap.

Soybeans bounce as corn, wheat fall further

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