Soybeans were higher on commercial and technical buying. Contracts bought back part of Monday’s losses, with support from the solid demand outlook and the rally in bean meal. Bean meal was up on the adjustment of product spreads, which pressured soybean oil. The demand outlook for soybean oil remains positive due to biofuels demand projections. U.S. harvest activity will see some delays and South American planting conditions are mixed. There’s some rain in the forecast for parts of Argentina, along with northern and central Brazil, while portions of southern Brazil remain excessively wet.

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