Soybeans were higher on commercial and technical buying, making new highs for the move. There was continued support from the tight domestic soybean supply pushing cash bids higher and solid global demand for vegetable oils. Soybean oil finished above $.60 per pound and May soybeans traded as high as $14.99 and ¾ per bushel during the session. That strength pulled soybean meal futures higher. The USDA’s weekly export sales report is out Thursday and demand from China, or a lack thereof, will be watched closely.

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