Soybeans were higher on commercial and technical buying. The trade was getting ready for Tuesday’s USDA’s production update, expecting a lower yield guess. Temperatures have moderated, but it’s been a dry finish in much of the region. The USDA says 52% of U.S. soybeans are dropping leaves, a decline of 1% from a week ago, with 31% dropping leaves, compared to the five-year average of 25%. Soybean meal was up on demand prospects and the Philippines buying 185,000 tons of new crop bean meal Monday morning, while bean oil was mixed, consolidating.
