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Prices were mostly lower as soybeans and meal established new contract lows while spot oil reached a three-month low. “Despite beans being down $.05-$.10, spreads rallied. Jan/Mch narrowed to a penny carry, its highest level in six months. The lower prices have likely slowed farmer sales, forcing the spreads to firm to keep the pipeline full,” stated Mark Soderberg with ADM Investor Services.
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“Beans closed with strong gains, boosted by strength in meal and bean oil. Crude prices have been volatile this morning and remain higher on t…
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