Soybeans were higher on commercial and technical buying, padding the weekly gains. World vegetable oil prices either made new highs or came close to them ahead of the U.S. session. Additionally, U.S. and world supplies remain tight, with new supply and demand numbers out on the 9th. Harvest remains slow in Brazil and while parts of Argentina could see rain over the next week, totals and coverage are uncertain. Brazil could still be on pace for a record crop and some spots in Argentina have seen improvements in condition, but South American soybeans are not out of the woods quite yet.

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