Soybeans were sharply higher on commercial and technical buying, pulling March and May back above $14. Weather concerns were back in the driver’s seat, with harvest delays in Brazil and dry weather in the forecast for most of Argentina. There’s been more talk of China buying beans from Brazil, even with that slow harvest. The USDA hasn’t announced a sale of U.S. soybeans since January 29th. Even if demand has slowed down, the fundamental outlook continues to be bullish because of the supply, with the USDA’s next set of projections out on the 9th at Noon Eastern/11 Central.

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