Futures market for soybean complex rebounded late Wednesday shrugging off the bearishness from large sell-off in the first half of this week as China announced state auctions of soybean reserves.
CBOT soybean futures rebounded 1-2% yesterday after falling for two straight sessions earlier in the week. Soymeal and soyoil futures on China’s Dalian Commodity Exchange also ticked within 1% higher on Thursday, largely following stronger CBOT board.
The market fended off bearish pressure and rallied a...