CBOT soybeans closed higher, with the base period closing up about 0.8%.

Gold Ten Futures, July 4th, according to foreign media news, CBOT soybean futures closed higher on Wednesday, of which the base period closed up about 0.8%, because the short cover was active, and the adjacent pool soybean oil soared, helping the soybean price recover from a four-year low. Due to the market's concerns about huge supply and sluggish US export demand, the soybean period on Tuesday fell to about 1097, which is the lowest level since 2020. This led to a serious technical oversold. An analyst said that the soybean market is correcting its technical oversold situation. Traders adjusted their positions before the US market closed on Thursday. The weekly export sales report of the US Department of Agriculture will be delayed until Friday. Analysts expect that as of the week of June 27, the 2023/24 annual US soybean export sales volume will be 20-600,000 tons. Chinese buyers are said to have bought several cargoes of Brazilian soyabeans in recent days, market participants said, as Brazilian farmers were encouraged to sell more aggressively after the sharp fall in the real. One analyst said it might take some crop problems to lure bulls back into the market or incentivize speculative funds to make up a lot of short orders.