Soybeans closed higher on spread adjustments. March soybean contracts traded above and below the close on Monday, ending up 2 1/2 cents to set a new contract high of $12.50. The up and down day for soybeans came from mixed weather signals from South America with increased rain northern Brazil, putting downward pressure on the market. South American forecasts will continue to be key with dry weather still being reported for southern Brazil and Argentina.
