Soybeans were sharply higher on commercial and technical buying, making new highs, but still closing well below the session highs. Parts of Brazil have received good rain recently, but other areas of Brazil and most of Argentina remain drier than normal. Very early harvest activity is being reported in parts of Brazil, but that’s extremely uncommon as most of the beans in South America saw planting delays because of dry weather. Demand continues to be strong, with the USDA reporting a big crush for November.

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