Wheat finishes week strong

Soybeans were higher on short covering and technical buying, pulling contracts to a weekly gain. Beans and bean oil had some help from the broader market, especially crude oil, and global vegetable oils. Soybean meal futures finished Friday mixed on bull spreading. U.S. planting is ongoing, while Brazil’s record harvest is nearly over and Argentina’s much smaller harvest is a third complete. Brazil continues to control the export market, but there are issues with transportation to ports and storage.

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