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“Prices were mixed across the complex. Beans were $.04 higher in spot Nov-25 while deferred contracts were off $.01-$.02, meal was $1-$3 higher while oil slipped 50-60 points. Bean and meal spreads firmed while oil spreads weakened with several making new lows. Today’s high in Nov-25 beans has matched yesterday’s high at $10.38 with next resistance at the Sept. high at $10.53. Dec-25 meal surged thru its 100-day MA closing at a 2-month high. The next major resistance not until the Aug-25 high near $300 ton. Dec-25 oil briefly traded under $.50 lbs. before recovering to close just above it. Spot board crush margins slipped another $.03 ½ to $1.54 bu. with bean oil PV falling to its lowest level in nearly 5 months at 46.3%,” reported Mark Soderberg with ADM Investor Services.





