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Soybeans rose on commercial and technical buying, following soybean oil higher after OPEC's surprise production cut lifted crude oil. Soybean oil also gained from a sale of 20,000 tons to unknown destinations, while soybean meal fell on profit taking.
Corn was mixed to firm, and Argentina's soy dollar program resumed.
Higher crude oil strengthens the biofuel link that supports soybean oil and, through crush, the soybean complex. Argentina's export incentive adds competing supply that can limit upside.
brownfieldagnews.comApr 3, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
