Soybeans were modestly lower on fund and technical selling, but March and May did close above $14 and, overall, contracts put in good weekly gains. Beans followed through on Thursday’s losses, with palm oil lower heading into the session, but losses were limited by the fundamentals. There were no deliveries on March soybeans or soybean meal. Crop weather issues in South America are ongoing, with a lot of focus on harvest delays in parts of Brazil, demand continues to be solid, and the USDA is projecting tight supplies for the 2020/21 and 2021/22 marketing years.

…