Soybeans rally on products, crude oil

Soybeans rally on products, crude oil

Soybeans were higher on commercial and technical selling. Beans started lower but turned higher with the gains in meal and the rallies in soybean and crude oils, all uncovering new buying interest during Monday’s session. The initial losses in beans, bean oil, and crude oil were due to demand concerns for China with rising COVID cases and increasing resistance to Beijing’s zero-COVID policy. Domestic crush margins remain in solidly positive territory. Unknown destinations bought 110,000 tons of 2022/23 U.S.

    

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