Soybeans were sharply higher on commercial and technical buying. Soybeans were oversold, the fundamentals remain supportive, and soybean products were higher, also supported by commercial buying tied to demand expectations. Old crop soybean export sales were down sharply on the week after a cancellation by China, but new crop sales were solid thanks to unknown destinations and Mexico. More near-term planting delays are likely in some key U.S. growing areas. A big question right now is how many acres will be planted in North Dakota, one of the biggest soybean growing states.

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