Soybeans were higher on short covering and technical buying. The trade is watching the weather heading into September, with concerns about development for a crop that’s already behind schedule. The trade continues to wait for some kind of news about talks with China. The U.S. and Chinese tariffs remain in place, with more scheduled to go into effect September 1st and China continues to source most of their soybeans from South America. China’s Ministry of Customs says soybean imports during July from Brazil were 6.42 million tons, an increase 17% from June, and purchases from Argentina were 1.07 million tons, a jump of 328% on the month.
Continue reading Soybeans, corn up, watching development weather at Brownfield Ag News.
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