Soybeans were higher on commercial and technical buying. Beans followed the sharply higher meal, supported by strong cash basis levels and solid demand, ignoring the losses in bean oil. Bean oil was pressured by losses in palm oil and canola, along with some disappointment over the EPA’s revised 2020 and 2021 blending mandates. The mandate will move higher for 2022 and the EPA says it will not take blending waivers from small refiners, which has been a huge point of contention over the past few years.

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