Soybeans were higher on commercial and technical buying, notching a fresh round of contract highs. The near-term U.S. supply remains tight and domestic demand continues to be strong, even if export demand has lessened to a degree as Brazil’s harvest has advanced. Even with that relative slowdown, soybean exports are on pace to meet or exceed USDA projections for the current marketing year and calendar year 2021 sales are expected to top the strong 2020 total, all largely driven by demand from China.
