Soybeans, corn, wheat bounce back a little

Soybeans were modestly higher on short covering and technical buying, still closing sharply lower on the week. Contracts were oversold and due for a bounce, with help from strong domestic crush demand. The trade is watching probable harvest delays through the end of the month and yield reports, which have generally come in below USDA projections. The trade is also monitoring planting conditions in South America. All projections seem to be showing higher planted area and another record crop in Brazil, while some improvements in weather are expected to help production in Argentina.

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Soybeans, corn, wheat bounce back a little