March Soybean futures bounced off lows, recovering a significant portion of the selloff triggered by the recent USDA report. Prices closed 16 cents off Tuesday's lows, supported by bullish fundamental data. NOPA reported a December crush of 224.99 million bushels, slightly beating expectations and marking the second-best monthly total on record.
Demand strength was further confirmed by weekly export sales, which surged to 2.062 million metric tons—well above the 1.8 million high-end estimate. China accounted for 1.2 million tons of that total. Additionally, daily flash sales of 204,000 tons to China and 545,000 tons to unknown destinations bolstered the bullish sentiment.