Soybeans were higher on fund and technical buying. Strong demand from China is expected to continue and U.S. prices are at a big discount to Brazil. Weekly export inspections were above what’s needed to meet USDA projections for the current marketing year. The USDA says unknown destinations bought 318,000 tons of U.S. soybeans Monday and China picked up 129,000 tons, all for delivery this marketing year. Additionally, beans continued to react to last week’s supply, demand, and production revisions.
