Soybeans, wheat bounce, still down on week

Soybeans were higher on commercial and technical buying but ended the week with significant losses. Contracts were oversold and due for a bounce, with some help from rallies in soybean meal and oil. First notice day deliveries were reported for May bean oil, but there were no deliveries on May beans or meal. The near-term supply is tight and domestic demand is solid, even if crush margins have narrowed. It’s still a little early to get too concerned about U.S.

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