Soybeans were higher on commercial and technical buying. Domestic demand continues to be solid, with strong crush margins, reflected by Wednesday’s USDA crush numbers for September. Export sales were down on the week, but still over a million tons, with China buying the bulk of the total, followed, distantly, by South Korea. Near-term U.S. harvest conditions generally look favorable in most of the Midwest and Plains, while South American weather continues to be mixed. ANEC says Brazil exported 5.5 million tons of soybeans in October 2023, compared to 3.8 million in October 2022.
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