Optimism wins last week, pulling soy complex prices higher
Soybeans ended last week strongly, with July-20 futures up by almost $0.30 per bushel. Optimistic signs of additional Chinese buying and weakening of the U.S. dollar offered hope of additional export demand.
The market is preparing for Thursday’s WASDE without too much fanfare anticipated other than adjustments to demand for the 2019/20 marketing year.
USDA’s crush report pegged April soybean crush at nearly 183.4 million bushels—a record for April.
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