Soybeans were higher on fund and technical buying, closing towards the upper end of the day’s range. That weekend rain in Argentina was beneficial, but long-term forecasts remain mostly dry. Aside from dry conditions in some southern growing areas, Brazil generally looks good and seems to be on track for a record crop. The big recent bright spot for the soybean industry in Argentina has been Buenos Aires “soy dollar” program, implementing a favorable exchange rate for the crop and sparking sales.
