Soybeans were higher on speculative and technical buying. Most forecasts have light near-term rain in South America, but some areas will remain mostly dry, while U.S. harvest activity could wrap up soon. The USDA says 92% of U.S. soybeans are harvested, compared to the five-year average of 90%. Unknown destinations bought 123,000 tons of 2020/21 U.S. beans. Weekly export inspections were bullish, with China and Mexico the top destinations. China’s General Administration of Customs says soybean imports for October were 8.69 million tons, up 41% on the year.
