Soybeans were sharply higher on commercial and technical buying. Traders continued to buy back some of the recent losses, with help from meal and oil. Soybean meal was supported by solid demand expectations and crush margins, while bean oil picked up additional support from crude oil. The CME Group’s Malaysian palm oil futures were also higher. The first notice day for deliveries on CBOT July contracts is the 30th. The USDA’s condition rating declined 3% and there are concerns about soil moisture in parts of the eastern Midwest.

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