Soybean Oil Futures Rocket Higher On Dryness Concerns and Fund Buying

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Soybean Oil Futures Rocket Higher On Dryness Concerns and Fund Buying

Soybean futures surged almost two percent (November contract +16 1/4 cents per bushel) on Thursday as growing concerns about the impact of developing dryness in parts of the Midwest combined with oversold conditions to trigger fund buying. Position squaring ahead of the United States Department of Agriculture’s (USDA’s) World Agricultural Supply and Demand Estimates (WASDE)

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