Soybeans were sharply higher on fund and technical buying, padding the week-to-week gains. The trade was focusing on weather, with dry conditions in parts of the region expected to worsen over the next few days. The USDA’s first national crop condition rating for beans is expected to be out Monday afternoon. There was also spillover from a rally in bean oil, which pulled bean meal higher. Weekly export numbers were bearish, along seasonal lines, but the near-term supply remains very tight and if this year’s crop is hit by weather, the supply will remain tight next marketing year.

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