Soybeans are posting 17 to 19 cent gains early on Monday. Futures rebounded from the Thursday losses to close Friday with a late push higher, up 4 ½ to 9 ½ cents. August was 12 ¾ cents in the green on the week, with November 12 ¼ cents higher. Open interest was up 7,851 contracts on Friday. The cmdtyView national average Cash Bean price was up 10 3/4 cents at $11.66 3/4. Soymeal futures were $2.70 to $3.90 lower at the close, with August slipping 20 cents last week. Soy Oil futures were 115 to 238 points higher, as August rallied 435 points last week.
NOAA’s 7-day QPF updated forecast shows 1- 2 inches expected in much of NE, MO, and parts of Southern/Eastern IA and western IL. Precip is limited in much of the rest of the Corn Belt.
