Soybeans were higher on fund and technical buying. Beans are watching near-term planting and development weather in South America, which generally looks favorable. Sustained demand from China is a concern due to slower economic growth. The continuation of Beijing’s zero-COVID policy is also an uncertainty. Even then, it’s a narrow window for U.S. soybeans this season ahead of what’s expected to be another record crop in Brazil. There’s talk that China will buy soybean meal from Brazil due to tight supplies.
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