Soybeans were sharply higher on commercial and technical buying. Crush margins have tightened, but remain in positive territory, and bean meal was up sharply. Soybean oil had some influence from palm oil futures, which closed lower ahead of the U.S. session. Weather this week generally looks mild, while forecasts have a return to hotter, drier conditions in many areas next week, a critical time period for soybeans. This past weekend’s rainfall was below initial projections in much of the region.

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