Soybeans were modestly higher on short covering and technical buying. Beans had some help from the higher move in bean oil, while watching development weather in Argentina and delayed harvest activity in Brazil. The USDA’s updated production numbers are out March 8th and CONAB’s new outlook for Brazil is set for March 9th. Some soybean crushers in Argentina have reportedly bought back meal and oil contracts for March delivery to avoid defaulting on the contracts due to tight supplies and shipping delays.
Soybeans bounce back with help from bean oil
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