Soybeans, corn buy back some losses

Soybeans were modestly higher on fund and technical buying. Beans saw an oversold bounce, with some help from soybean oil and strong crush margins. Soybean meal was down on demand related product spread adjustments. U.S. soybean planting is slower than average but should pick up steam in many areas over the next few days. There’s still some talk of switching acres from corn to soybeans in parts of the region, but no confirmation. Soybean oil was able to shrug off the losses in crude oil and palm oil, which dropped on larger than expected supplies in Malaysia.

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