Strength in soybeans, wheat pulls corn higher

Soybeans were sharply higher on commercial and technical buying, with March closing just shy of the 2021 spot price high. Beans roared to new highs with strength in bean meal, with March establishing a fresh closing high, and China buying 132,000 tons of 2022/23 U.S. beans. That is the sixth day in a row with an announced purchase of U.S. soybeans for a running total of 815,000 tons, including 575,500 tons of new crop. Most of those sales have been to either China or unknown destinations.

…