Soybeans up, corn mixed ahead of Friday’s USDA numbers

Soybeans up, corn mixed ahead of Friday’s USDA numbers

Soybeans were modestly higher on short covering and technical buying. Weekly export sales were a little better than expected at just over a million tons mainly to China and Mexico against a small cancellation by unknown destinations. There’s been more competition recently from Argentina following Buenos Aires’ introduction of the “soy dollar”, but that special exchange rate is set to end Friday. Even with that competition from Argentina, the normal seasonal dominance of Brazil, and the political tensions with China, 2022/23 U.S.

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