Soybeans were modestly higher on speculative and technical buying. 8% of U.S. beans are planted, ahead of average, with delays in some areas this week. The trade is also monitoring harvest delays due to heavy rain in parts of Argentina, stretching into portions of southern Brazil. That heavy rain is also leading to quality concerns for South American soybeans. The USDA’s next round of supply, demand, and production estimates are out May 10th, with CONAB’s updated outlook for Brazil on May 14th.
