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Soybeans, corn, wheat give back some gains

Soybeans were lower on profit taking and technical selling, ending the session towards the middle of the day’s range. The near-term weather outlook has shifted, calling for a more moderate pattern in some areas next week. Still, forecasts can change quickly and August is the critical month for beans. Soybean meal was mostly lower on bull spreading. Bean oil was down on talk Indonesia will push back raising its palm oil biodiesel mandate from 30% to 35%, which was scheduled to start this week.

Soybeans, corn, wheat give back some gains

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