Soybeans see bounce as corn, wheat drift lower

Soybeans were modestly higher on short covering and technical buying. Beans found buying interest near session lows as the trade monitors crop conditions ahead of widespread U.S. harvest activity and South American planting. The Rosario Grain Exchange left its planted area and production estimates for Argentina unchanged. Export sales were within pre-report expectations and while recent demand has been good, new crop sales are behind the old crop pace. Last week’s big buyers were China and unknown destinations.

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Soybeans see bounce as corn, wheat drift lower