May soybean oil closed up 1.15 cents at 48.37, its highest close for a May contract in seven years. Another oil, canola, finished at its highest spot price on record as both benefitted from strong world demand, tight supplies and a recent boost in crude oil prices.
Farm and Ranch Director Jesse Allen has the full closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, go more in depth into today’s trade with Jesse on Market Talk. Today’s guest is Bill Biedermann with AgMarket.net.