Soybeans were modestly higher on short covering and technical buying, but with March and May both below $12 after trading above that mark. The USDA raised U.S. ending stocks slightly, while lowering Brazil’s crop a little bit and raising exports. That’s in contrast to a big cut by CONAB with a reduction in their export guess. There were no changes to the soybean outlook for Argentina this month and China’s imports were left unchanged at 102 million tons.
