Soybeans were higher on commercial and technical buying, but with deferred months outgaining nearby contracts on spread adjustments. The USDA left U.S. ending stocks unchanged, lowered the crop guess for Argentina, and raised production for Brazil. Those were generally close to average pre-report estimates, with the next set of numbers out April 9th. Safras e Mercado expects Brazil to harvest “at least” 130 million tons of beans, compared to the last guess of 133.1 million because of rain delaying harvest, lowering yields, and harming quality, with CONAB’s projection out Thursday.
