Soybeans are posting 10 to 12 cent losses on Friday morning. Futures corrected off midday strength, with contracts closing a penny higher to a penny lower. Open interest was up 13,800 contracts on Thursday. The cmdtyView national average Cash Bean price was down 1 1/4 cents at $12.61 3/4. Soymeal futures rallied $3.60 to $7.80, with Soy Oil down 13 to 52 points.
The 7-day forecast from NOAA continues to call for heavy rains from parts of SD, NE, and KS through IA, MN, WI, IL, IN, and OH. That will limit early harvest progress.
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