Soybeans, corn gain as wheat fades again

Soybeans were higher on commercial and technical buying but ended the session below the day’s highs. CONAB lowered its outlook for Brazil’s bean crop by 2.702 million tons, now at 122.77 million, which is under the most recent USDA guess. CONAB left its export projection for Brazil unchanged, for now. Brazil’s National Association of Cereal Exports estimates March soybean exports at 13.769 million tons, compared to the initial projection of 11.775 million, with soybean meal shipments also expected to be up from earlier expectations.

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