Soybeans

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Soybeans have been hovering for a few weeks, but headlines regarding trade with China are not getting much attention, Oliver Sloup of Blue Line Futures said. “It’s a recycled headline, and it’s shaping up to be a boy who cried wolf situation.”

With forecasts showing rain entering the Midwest this weekend, soybean prices were “on the defensive,” Ami L. Heesch of CHS Hedging said. Meanwhile soybean srush is well above trade expectations at 155.826 mln bushels, while oil stocks are below trade expectations.