Commercial demand supports soybeans, corn, wheat

Commercial demand supports soybeans, corn, wheat

Soybeans were higher on commercial and technical buying, with September breaking through what had been resistance at $15. Domestic crush margins are strong and soybean meal was higher, supported by solid interior cash demand. Soybean oil was lower for much of the session, following crude oil, but rallied on global vegetable oil demand. Near-term development weather looks non-threatening in much of the region, but some areas do need rain and there is a chance of hotter, drier conditions in September.

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