Soybeans were modestly higher on short covering and technical buying, buying back a small portion of Monday’s losses. The USDA’s national condition rating was down 1% and development is behind the five-year average. Weather forecasts for this week look mixed, much better for some areas than others. Demand is slow, but without China’s tariff, U.S. beans are the world’s most competitively priced after the recent higher move for Brazil. That said – while U.S. export inspections have picked up steam, the 2018/19 pace remains slow with a couple of weeks left in the marketing year.
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