Soybeans were sharply higher on speculative and technical buying, along with the higher dollar, but still closing lower on the week. Just 8% of Argentina’s soybean crop is rated good to excellent with more hot, dry weather in the forecast. That also supported soybean meal and oil as Argentina is usually the world’s largest exporter of soybean products. This crop damage will likely improve demand for U.S. soybean products, at least to some extent. Unknown destinations bought 132,000 tons of 2022/23 U.S.
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