Monday 3rd June 2024

Soybeans were higher on commercial and technical buying. Beans again followed the lead of world vegetable oils, which are being driven by fuel and food demand. Soybean oil was up on that global vegetable strength, with canola and palm oil higher, while bean meal was mostly firm on spread adjustments. The USDA says 73% of U.S. soybeans are harvested, compared to 60% last week and the five-year average of 70%. U.S. soybeans continue to hold a price advantage over competing nations.

   

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