Reduced Russia tensions but new palm oil concerns. January 27, 2022
March soybeans were able to break their prior highs from May in today's session. New contract highs and a new high-close for the entire contract length were made. November futures also posted a new contract high and new high-close. Indonesia confirmed earlier rumors with a mandate for a 20% reduction in most veg oil exports. US soybean oil futures also pushed to new contract highs. New Brazilian soy estimates were also discussed.
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