Soybeans were higher on fund and technical buying. Contracts bounced back from Tuesday’s drop, with a more stable tone in the broader market during part of futures session and spillover from bean meal, which was up on strong commercial demand. The broader market did sell off following the announcement of the new COVID variant in California, the first in the U.S. Soybean oil ended the session mixed on bear spreading. The USDA says 197 million bushels of soybeans were crushed during October, record large, up 33 million from September and slightly above October 2020’s previous all-time high.

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