Soybeans were higher on commercial and technical buying. Soybeans saw follow through support tied to the contract highs in meal. That’s partially because of concerns about Argentina’s crop, with more hot, dry weather in the forecast. Argentina’s typically the world’s largest exporter of soybean products. The Buenos Aires Grain Exchange says 37.1% of Argentina’s soybean crop is planted, well behind the year ago pace due to weather. Conditions are comparatively much better in Brazil. CONAB’s next projection for Brazil is out Thursday, with the USDA’s updated supply and demand numbers scheduled for Friday.
