Soybeans closed mixed on spread trade and profit taking. Beans were up early on concerns about weather’s effect on yield ahead of Friday’s USDA numbers but sold off as bean meal retreated from its highs. The initial support for bean meal came from strong domestic cash demand, which gave way to bull spreading. That supported by nearby months and is a sign of that strong cash demand. China bought 196,000 tons of new crop U.S.
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