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“Prices across the complex were mixed with beans $.02-$.05 lower in choppy 2-sided trade. Inside trade for May-26 beans in a surprisingly narrow range. Meal was off $3-$4 while oil was 120-180 points higher. Inside trade for May-26 meal as it held support above its 100-day MA $313.40. May-26 oil closed near session highs just below this week’s peak at 69.68. Agricultural prices were unable to hold overnight strength tied to surging energy prices. Spot crush margins surged $.19 to $2.88 ½ bu. the highest since Oct-22, while bean oil PV bounced back to its all-time high at 52.2%. Census crush in Feb-26 at 214 mil. bu. was a record high for the month while the daily crush rate at 7.64 mbd was a new all-time high. In the first half of the 25/26 MY cumulative crush is up 8.2% from YA, vs. the USDA forecast of up 5.3%.,” reported Mark Soderberg with ADM Investor Services.





