Soybeans closed fully higher Wednesday. Development weather
is good, taking a more bearish turn, with a forecast saying rain is coming Thursday.
A drop off in Chinese demand is bearish, however DTN reported rumors of the Chinese
buying U.S. new crop soybeans for October. They also reported that funds bought
soybeans while selling both corn and wheat. China’s hog herd grew almost 4
percent from April to May, which should boost demand for soybean meal.

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