Soybeans were higher on commercial and technical buying. Old crop exports were a marketing year low following a cancellation by China, but commitments are close to the USDA’s target for 2020/21, and new crop sales were solid, with China the biggest buyer. The new marketing year for soybeans starts September 1st. The trade is watching harvest activity in South America. Activity is at least 80% in Brazil, while parts of Argentina could see some near-term delays.

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