China’s bean buy overshadowed by weather. July 20, 2022
Soybeans, with a great looking crop (overall) and a slightly improved near term forecast, went back to testing the trade's interest in sub-1340 pricing. We do expect a little support at this lower price range. Malaysian palm oil futures have slightly recovered in price over the past four sessions. This discussion about hot and dry for the WCB 10 days out will of high interest to soybeans as August approaches.
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Possible light fund short covering yesterday
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Funds sellers of 21K, slightly higher support due to exports
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SA maps still look solid for rains in the 10 day
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