Soybeans were sharply higher on commercial and technical buying. There was continued support from the tight supply and solid demand for vegetable oils and energies. Ukraine’s the world biggest exporter of sunflower oil and significant contributor to the global energy market. Last week’s export sales and NOPA crush numbers were also bullish. Weekly export inspections were up on the week and the year, mainly to China and Egypt. That said – sustained Chinese demand is a concern because of rising COVID-19 numbers in some areas.
