# Oversold bounce props up grains, oilseeds - Brownfield Ag News

> Soybeans, soymeal, soyoil and corn rose on short covering and technical buying after recent losses. USDA rated the national soybean and corn crops as lowest in years for condition, with development slower than normal. Mexico bought 138,000 tons of 2019/20 U.S. soybeans and 195,750 tons of soybean meal, and 278,200 tons of U.S. corn, while China trade talk was unconfirmed.

- Date: 2019-09-10 · published 2019-09-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11885-oversold-bounce-props-up-grains-oilseeds-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The move is mainly a technical bounce, but the Mexican purchases and slow crop development add modest support to soybean complex and corn prices ahead of the USDA report.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/oversold-bounce-props-up-grains-oilseeds/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.