Soybeans were higher on commercial and technical buying, rallying after the USDA released the new supply, demand, and production numbers. The USDA lowered its production and yield estimates, while ending stocks were up less than expected. Argentina’s soybean crop guess was down, as were exports, and while Brazilian production was unchanged, exports were up on the month. AgRural says 67% of Brazil’s soybean crop is planted, ahead of a year ago. The USDA did lower the import estimate for China 1 million tons to 100 million.

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