Soybeans were higher on short covering and technical buying but closed with significant weekly losses. Contracts were oversold after the big drop on Thursday and export demand has been solid. However, longer-term sales a big question due to uncertainties about the economic health of and demand from China due to COVID lockdowns in some major cities. Most near-term forecasts have generally dry conditions in the Midwest and Plains, but for now, most analysts are expecting a big crop.
