Wheat continues to gain, with corn, soybeans mixed

Soybeans were mostly lower on spread trade and profit taking. Beans continued to react to Russia’s invasion of Ukraine halting energy and vegetable oil exports, but couldn’t follow through on the periodic gains, with a lower move in soybean oil. Soybean meal did finish higher on commercial buying. The trade is also monitoring the near-term rain forecast for dry parts of Argentina and southern Brazil. It’s generally been a dry growing season, pulling production projections lower, and sparking export interest in U.S.

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