Soybeans were sharply higher on commercial and technical buying, notching another round of new highs for the move. Unknown destinations bought 507,000 tons of U.S. beans Monday morning, with 249,000 tons for 2021/22 and 258,000 tons for 2022/23, after also purchasing old and new crop U.S. beans Friday. Those could turn out to be China when it’s time for delivery. The recent spike in U.S. soybean sales can be linked to lower South American production estimates.
