“Prices were higher across the complex in volatile, 2-sided trade. Beans were $.01-$.02 higher, meal was up $1-$2 while bean oil rebounded 70-80 points. Both Sept-26 and Nov-26 beans scratched out new contract highs. Oct-26 meal traded to a 9-month high. Oct-26 oil held support above its June low of $.65 lb., recovering to challenge its 100-day MA resistance at 69.13. Crush margins rebounded $.09 ½ to $2.18 bu. after falling to a 6-month low yesterday. Bean sales at 94 mil. were at the high end of expectations. Old crop commitments at 1.541 bil. bu. are down 17% from YA vs. the USDA forecast of down 20%. China’s new crop purchases have reached 6.8 mmt (248 mil. bu.).  New crop commitments jumped to 527 mil. bu., a 4-year high, up 98% YOY. Meal sales at 428k tons were at the high end of expectations. Old crop commitments are up 15% YOY vs. the USDA forecast of up 13.4%. Uncertain U.S. production combined with Chinese buying provide little wiggle room for the U.S. crop to slip below the current USDA forecast of 4.519 bil. bushels,” noted Mark Soderberg with ADM Investor Services.