Federal Reserve Policy Shift Joins Weather/Biofuel Concerns

Commodity wide selling almost brought soybeans to test their newly expanded $1.50 limit today. The Federal Reserve's announced policy change was the biggest issue. Weather and biofuel policy concerns are contributing factors. Limits for all three soy products were in place due to yesterday's limit down in soybean oil. As soybean oil closed down the 5.5/lb. expanded limits today, all three will see expanded limits again tomorrow ($1.50 soybeans and $45 soymeal).

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