Soybeans were higher on commercial and technical buying, seeing an oversold bounce, despite a bearish set of USDA numbers. The USDA raised yield, production, acreage, and ending stocks estimates, generally close to pre-report expectations. Still, harvest is only getting started in southern growing areas and beans will need a trend line yield or better to meet demand expectations. The USDA did raise beginning stocks while lowering imports and crush use, while boosting the export demand guess.

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