Soybeans were higher on short covering and technical buying. Forecasts for South America are mixed, a little wetter over the near-term for parts of central and northern Brazil, and drier for portions of southern Brazil and most of Argentina. Continued oversold signals and strength in crude oil were also supportive. Slow export demand continues to be a bearish factor. Export inspections climbed back above a million tons, but under last week and last year while the overall pace remains slower than what’s needed to meet projections for the current marketing year.
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