“Soybean futures are trading sharply higher this morning after yesterday’s prices started strong and succumbed to profit taking later in the day,” Total Farm Marketing said. “September soybeans are up 10-1/2 cents to $12.11-1/4 while November is up 11-1/4 cents to $12.28. September soybean meal is up $2.10 to $315.10 and September soybean oil is up 0.70 cents to 70.39 cents. China has purchased U.S. soybeans nearly every day over the past week. Yesterday they purchased 136,000 metric tons and in the 3 days before that they purchased a total of 505,000 mt, all for 26/27 delivery.”