Soybeans are trading with 1 to 2 cent gains on Thursday morning. Futures faded lower into the Wednesday close, with contracts down 6 ¾ to 9 cents on the day. Open interest was down 19,147 contracts on Wednesday, as 24,809 contracts were exiting July. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $10.58 1/4. Soymeal futures were up 70 cents to $2.30 lower in the nearbys, with Soy Oil futures back down 82 to 113 points.
The NOAA 7-day QPF showed a band of 1 to 3 inches from KS to the Southern portions of the ECB. Lighter totals of less than ½ inch are seen in northern IL, much of IA, NE, and SD.
