Soybeans are trading with 32 to 35 cent losses on Monday morning, with a wetter forecast and sharply lower crude oil playing a pressure factor. Futures closed the Friday session with contracts steady to 10 ½ cents higher, with the front months leading the bull spreading. August managed a 43 ½ cent gain last week, with November 50 ½ cents higher. The cmdtyView national average Cash Bean price was up 9 3/4 cents at $12.14 3/4. Soymeal futures were $1.40 to $3.70, with August $11.10 higher since last Friday. Soy Oil futures were down 27 to 126 points at the close, with August slipping 48 points on the week.
The NOAA 7-day QPF shows 1 to 2 inches across much of the Corn Belt from NE across much of IA, MO, IL, and IN over in the next week. The Dakotas and MN are seen with less than 0.5 inch, and spotty totals up to an inch.
