Nearby Chicago wheat holds limit up gains

Soybeans were sharply lower on profit taking and technical selling. It was an up and down day, with beans seeing spillover from a lower move in bean meal. March beans were limit up overnight but saw a reversal on that profit taking in bean meal and the fairly bearish numbers from the U.S. Ag Outlook Forum. That reversal in bean meal came despite record domestic prices in China due to tight supplies. At the Ag Outlook Forum, the USDA projected this year’s U.S.

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