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John Heinberg at Total Farm Marketing said, “Soybeans ended the day sharply lower after gapping lower last night and continuing to fade into today’s close. Traders had anticipated a trade announcement from President Trump on Friday when he spoke in Iowa, but none was announced. Both soybean meal and oil were lower despite higher crude prices.” Mark Soderberg at ADM Investor Services said, “Today’s selloff wiped out the gains made Wednesday and Thursday of last week as markets speculated President Trump may announce progress on a trade deal with China involving the purchase of U.S. ag goods.”