Soybeans were sharply higher on commercial and technical buying. The USDA says planted area was 87.6 million acres, up 5% on the year, but lower than what was expected ahead of the report. This will likely change between now and the end of harvest, with nearly 10 million acres still unplanted at the time the report survey was finished and it doesn’t factor in any recent potential losses. Quarterly stocks of 767 million bushels were down 44% and also lower than expected.

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