Soybeans were higher on commercial and technical buying, padding the weekly gains and pulling January to a one-month high. Demand is solid and crush margins are bullish, which also supported soybean meal. The lower dollar was also broadly positive for grains and oilseeds. Soybean oil was up early, but unable to follow through as crude oil sold off. The trade is monitoring late U.S. harvest activity, along with conditions in South America. Parts of Argentina and Brazil have received some much-needed rainfall, but excessively wet conditions in southern Brazil are a concern.
