SOYBEAN OIL FUTURES RALLY ON OIL/MEAL SPREADING BUT NEARBY CONTRACT REMAINS BELOW 30 CENTS PER POUND

Soybean futures were marginally higher on Wednesday with most contracts gaining less than 1/4 percent. The nearby contract dropped under the psychologically important $9 level for the second day but rallied late in the session on a combination of technically-driven buying above the 200-day moving average and reports…