Soybeans were solidly higher on commercial and technical buying, ending the week mixed, with nearby months up modestly and deferred contracts down sharply. Contracts bounced back after Thursday’s drop, still watching weather in South America. Most forecasts have better harvest weather in Brazil and improved development conditions for Argentina. Just over the halfway point of the marketing year, export demand has slowed down as Brazil’s harvest pace has picked up steam. Soybean meal was up on commercial buying, even with chatter than China is lessening the amount of meal used in livestock feed rations because of tight supplies and high prices.

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