Soybeans were sharply higher on commercial and technical buying, with the most active months notching new contract highs. Rain is slowing down harvest in central and northern Brazil, expected to move into southern Brazil and Argentina later this week. While it’s expected to be beneficial, totals and coverage are unknown. According to AgRural, 33% of Brazil’s soybean crop is harvested, compared to 15% a year ago. China bought 132,000 tons of new crop U.S. soybeans, the fifth business day in a row with an announced sale for a running total of 683,000 tons, most of that new crop to ether China or unknown destinations.

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