Soybeans were higher on commercial and technical buying. Crush margins have narrowed, but remain in positive territory, and bean meal was higher. Near-term development weather does look mostly non-threatening with some rain in the forecast for parts of the region, but longer-term outlooks generally look drier, which could cause some stress. Soybean oil was down on spillover from palm oil. Export numbers were neutral to bearish, with increased competition from Brazil. Old crop sales were down on the week, China was the leading buyer, but with a significant cancellation by unknown destinations.

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