Soybeans were higher on commercial and technical buying, with nearby months gaining back more than $.50 of the previous week’s losses. The harvest in Brazil is still slower than average because of rain in some areas and the Buenos Aires Grain Exchange cut their estimate for Argentina this week by a half million tons to 46 million. AgResource estimates Brazil’s crop at 128 million tons, 5 million less than the USDA’s most recent guess, with the next official estimate out February 9th.
