MEAL/OIL SPREADING PUSHES NEARBY SOYBEAN OIL FUTURES BACK ABOVE 28 CENTS

Nearby futures lost three cents on Friday pressured by profit taking following the sharp rally over the last two days. However, the nearby contract gained 16 3/4 cents for the week with was the largest weekly gain in the last five weeks. In addition to profit taking, soybean futures were also pressured by weakness in soybean meal futures, which fell by…