Soybeans are trading with gains of 2 to 5 cents so far on Monday morning. Futures posted Friday losses of 6 to 9 cents on the session, with futures failing to see bulls show up after USDA data was released. August soybeans dropped 51 1/4 cents this week, as November fell 42 cents from last Thursday’s close. Ther were 4 deliveries issued for July futures on Friday evening. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $9.64 1/4. Soymeal futures were down 90 cents to $1.80/ton, as Soy Oil was 12 to 26 points higher. There were 198 delivery notice for July soybean meal. Over the weekend President Trump announced a 30% tariff on the EU and Mexico starting on August 1.
Rains are expected to be rather widespread this next week, with much of the Corn Belt seeing at least an inch, with the Central Corn Belt upwards of 2-3 inches.
