Soybeans were sharply higher on commercial and technical buying. Contracts are oversold after the recent losses and bean meal also found new commercial buying interest after its drop. This week’s development weather is mixed and there are concerns about demand from China. China’s grappling with economic uncertainties connected to COVID, while throwing a temper tantrum following recent public U.S. support for Taiwan. All that being said, there’s talk of China buying new crop U.S. beans this week, in addition to some rumored purchases from Brazil.
Soybeans roar back, with corn, wheat also higher
