Soybeans are trading with early Thursday AM losses of 5 to 6 cents as bulls took a breather for the overnight session. Bulls pushed back into the close on Wednesday, with contracts up 10 to 12 cents at the close. November filled the gap from the post-July 4th weekend. Prelininary open interest was down 4,13 contracts. The cmdtyView national average Cash Bean price was up 10 1/4 cents at $9.82. Soymeal futures were $3 to $5.70/ton higher to close the day, with Soy Oil futures up 5 to 31 points. There were another 131 deliveries for August soybean meal overnight, with 2 for bean oil. August futures expire today across the complex.
The next week is looking at 1 to 3 inches shifting mostly over MN, and WI according to NOAA’s 7-day forecast, with parts of the Dakotas and MI seeing some lighter precip.
