Soybeans were modestly higher on fund and technical buying. Soybeans were oversold after outside market driven drop Tuesday, with concerns about U.S. development weather. The USDA’s most recent supply, demand, and production numbers were nominally bullish on soybeans, but not nearly enough to spark any kind of buying interest after the report or support much of a delayed rally Wednesday. Most forecasts are generally warm and dry heading into August, a critical month for soybean development.

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