Soybeans were higher on commercial and technical buying. Bean meal took lead for the soy complex, moving back to multi-month highs supported by solid end user demand and strong crush margins. Soybean oil was lower on product spread adjustments and a drop in crude oil futures. Most forecasts have warm, dry weather in southern Brazil and Argentina over the next couple of weeks, in-line with La Nina conditions. For now, conditions are generally good overall, but significant crop loss in South America would inflate global prices even further, likely limiting any improvements in demand for U.S.

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