OIL/MEAL SPREADING DRIVES SOYBEAN OIL FUTURES HIGHER FOR TENTH TIME IN LAST 11 SESSIONS

Soybean futures settled about 1/2 percent lower basis the nearby contract on Wednesday but losses in deferred contracts were smaller. The declines in soybean futures were driven by a decline in soybean meal futures, which fell about one percent. Soybean meal prices were pressured, in part, by slowing cash demand as end users have…