Broader market bullishness aids soybeans, corn, wheat in U.S

Soybeans were higher on commercial and technical buying, adding to the week’s gains. Beans followed soybean products, with bean oil up on global vegetable oils and fuel prices, including a higher move in diesel due to regionally tight U.S. supplies. Outside markets were also generally supportive of commodities, with a lower move in the dollar against a big gain in crude oil. Soybean crush margins continue to be strong, supporting bean meal, and export demand is good. There are some uncertainties about sustained demand from China because of likely record production in Brazil and Beijing’s zero-COVID policy, but for now, China remains a consistent customer for U.S. beans. Planting and development weather in South America continues to vary widely, with Brazil on pace thanks to good conditions, while planting in Argentina is delayed by drought or near drought conditions. The Solvent Extractors Association projects India’s vegetable oil demand to hit 26 million to 27 million tons in ...