Soybeans were higher on commercial and technical buying. May closed well above the 50-day moving average, with help from bean oil, which was up on the strength in palm and crude oils. Soybean meal had an up and down day, closing higher under the influence of beans and oil. Brazil’s harvest is about 70% complete, with activity underway in parts of Argentina. The USDA’s updated production estimates are out April 11th, the same day as CONAB’s new outlook for Brazil.
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