Soybeans were sharply higher on commercial and technical buying, pulling the most active months back above $10 per bushel. The USDA says September 1st soybean stocks were just over 523 million bushels, a bigger than expected drop of 42% on the year, reflecting the solid export demand and with an extra boost from a lower 2019 production total. That’s also effectively the 2019/20 U.S. soybean ending stocks total, but further revisions are probable. Unknown destinations bought 215,000 tons of 2020/21 U.S.
