Soybeans found support from strong gains in soyoil, helping lift the complex on the day. Weather remains a key factor, with ongoing dryness in the Western Corn Belt, while a system moving in could bring much-needed rain to some of those drier areas.
On the global front, the flow of oil and fertilizer through the Strait of Hormuz remains at a standstill, even as demand continues to build and deficits grow. Neither WTI nor Brent crude markets appear to be fully reflecting the tightness in Asian oil supplies, and the same could be said for the fertilizer market.
Meanwhile, livestock struggled to hold onto early gains, as the lack of fully developed cash trade weighed on the market and kept traders cautious.
