China concerns offset a worsened Argentine forecast.

China's virus concerns helped remove some of last week's strong gains. After so many months of weak Chinese soybean imports though, and a slightly expanding here, there is a limit to how much this new news hits. Traders are still expecting some type of mild pick up in Chinese purchases ahead. Argentina is a supportive story. It appears the meal/oil trade has now ended its sharp imbalance from prior days.

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