Soybeans were lower on fund and technical selling, with most contracts closing near the middle of the day’s range. Soybeans followed soybean meal, crude oil, and global vegetable oils. China did buy U.S. soybeans, but there are concerns about sustained demand due to possible COVID lockdowns. Beijing picked up 330,000 tons, 66,000 for 2021/22 and 264,000 for 2022/23, with another the purchase of another 204,000 tons for 2022/23 announced during the reporting period. Export inspections were down on the week, up on the year, and mainly to China and Spain.
