Soybeans were modestly higher on short covering and technical buying. Near-term forecasts are mixed, better for some areas than others, and forecasts for September are also mixed. The trade is waiting to see what’s next with China. There hasn’t been a whole lot of news on U.S./Chinese trade this week, which might be a case of no news is good news. For now, China is expected to continue to rely on South American beans, with new crop planting just around the corner.
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