Soybeans recorded a strong gain the week of Feb. 2 to 6, supported by new trade expectations.
Reports suggested China could purchase additional U.S. soybeans beyond earlier commitments. If realized these purchases could significantly tighten U.S. ending stocks and improve demand prospects.
Soybean meal futures also strengthened, and analysts cautioned livestock producers to watch feed costs closely.
Soybean oil prices rose after proposed updates to the 45Z clean fuel production credit improved long term biofuel demand outlooks.