DTN Grain Closing: Soybean Oil Headed for New High

    Fed Chairman Puts a Chill on the Soybean Rally

    Earlier Thursday, May soybeans traded 30 1/2 cents higher, and May soybean oil was on its way to a new contract high. After Federal Reserve Chairman Jerome Powell spoke to a luncheon, his comments sent U.S. stocks and grain prices lower and sparked a rally in the U.S. Dollar Index and Treasury yields.

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