Soybeans were sharply higher on commercial and technical buying, notching more new highs for the move. The near-term supply remains very tight and demand for beans and vegetable oils is strong. FOB prices for Brazil’s soybean crop are also very high, even with record expected production. Soybean meal and oil futures were both sharply higher on the supply implications of the tight soybean supply and solid demand. Most forecasts have planting delaying rain in some southern and southeastern U.S.

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