Soybeans were mixed on bull spreading, with nearby contracts firm and deferred months weak. Export sales were down sharply on the week but did feature solid demand from China against a cancellation by unknown destinations, most of which was switched to China. On the bull side, crush margins remain bullish and soybean meal was up, while on the bear side, bean oil was down and the U.S. harvest is ongoing. The trade is also watching planting in South America, with rain in the forecast for portions of Paraguay and southern Brazil.
