Soybeans were higher on short covering and technical buying. Beans continued their oversold bounce, with a little help from the sale of 389,000 tons of new crop to China. This month, China has bought 908,000 tons of U.S. soybeans, good, but less than what the trade has generally been expecting because of the U.S. price advantage over Brazil and the obligations of the Phase One trade deal. That said – part of the slow demand is likely because of political tension, which has ramped up after recent rhetoric by both Washington D.C.
