Soybeans are steady to 3 cents higher in early Thursday trade. Futures closed with losses of 6 to 7 ½ cents across the front months on Wednesday. Preliminary open interest was up 5,141 contracts on Wednesday. The cmdtyView national average Cash Bean price was down 6 cents at $9.27 1/2. Soymeal futures were under pressure on Wednesday, down $2.10 to $4.40. Soy Oil futures were mixed, down 5 to 28 points higher. There were 322 delivery notices for August soybean meal overnight, with 60 issued for soybeans and 61 against August soybean oil.
Temps are expected to warm up for a good portion of the central and eastern corn belt through the weekend. Precip is seen as limited through Friday, with some forecast for ND an scattered totals in IA and WI. The early part of next week is showing 1 to 2 inch totals expected for southern NE, IA, northern MO, and WI.
