Wheat up on winter crop conditions, slow spring planting

Soybeans were mixed, mostly modestly higher, adjusting spreads. Domestic crush demand is strong and China and unknown destinations both bought U.S. soybeans ahead of the open. Unknown picked up 133,000 tons, 78,000 for 2021/22 and 55,000 tons for 2022/23, while China purchased 133,000 tons, all for 2022/23. That pushes the two-day running total to 799,000 tons, most of that new crop. There are concerns about long-term demand from China due to increased domestic production and the continued possible spread of COVID-19.

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