Soybeans were sharply higher on commercial and technical buying. China bought 129,000 tons U.S. beans Monday morning, 66,000 for 2021/22 and 63,000 for 2022/23, which might be linked to lower production estimates out of Brazil. The most recent, from AgRural, has the crop at 128.5 million tons, below most other major estimates, with the lowest expected yield in six years. Safras e Mercado says 11.3% of Brazil’s 2021/22 soybean crop has been harvested, compared to 5% a week ago and 5.5% on average.

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