New highs again, old crop soybeans eye $15.

Another day of new contract highs and a new high-close were noted for corn and soybeans. May soybean futures came within 1/4 cent of testing the psychological point of 1500. That would appear to be a minor target for the overnight session. Traders continue to discuss the new crop Chinese feed situation as well as Brazil's announcement on Monday of zero import tariffs.

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