Soybeans were sharply higher on commercial and technical buying, pulling November 2021 and January 2022 above $14. There was another round of support from the tight soybean supply, strong domestic demand, and strong global demand for vegetable oils. U.S. planting delays are probable in some areas over the next few days, with rain and cooler temperatures expected in parts of the Midwest and Plains. Export demand has slipped as Brazil’s crop continues to move to market, but shipments remain ahead of what’s needed to meet projections for the 2020/21 marketing year.

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