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Soybeans, corn continue to rally on weather concerns

Soybeans were higher on commercial and technical buying. Parts of the region will see more rain this week ahead of a generally hotter, drier pattern next week. August is typically viewed as the critical month for U.S. soybean development. The USDA’s first official yield guess of the season is out August 12th and will include an updated look at acreage following a resurvey of producers due to planting delays. Soybean meal was mostly lower on spread trade and profit taking after the recent move to multi-month highs, while bean oil was up sharply on oversold signals and uncertainties about 2022 U.S.

Soybeans, corn continue to rally on weather concerns

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