Corn, soybean oil hit fresh highs on fundamentals

Soybeans were lower on profit taking and technical selling. Export sales were up on the week, but lower than average, and soybean meal was also down on profit taking. Soybean oil notched another round of highs on commercial buying linked to the tight globally of and strong demand for vegetable oils. Indonesia is restricting exports of both crude and refined palm oil and Ukrainian exports of sunflower oil have all but ceased because of Russia’s invasion.

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