Soybeans were sharply higher on fund and technical buying. The USDA says 56% of U.S. beans are rated good to excellent, down 1% on the week, and 16% is called poor to very poor, up 1%. Beans will need a trend-line yield or better to meet demand expectations and limit further price inflation for end users. China bought 132,000 tons of new crop U.S. beans, with a monthly total near 1.377 million tons just for China.

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