Soybeans were sharply higher on speculative and technical buying. The USDA’s national soybean good to excellent condition rating fell 5% following another week of mostly dry weather on some key U.S. growing areas. While the critical month for soybeans is August, conditions during these early development phases will inform this year’s yields to some degree. Soybean oil was mostly limit down on the EPA’s lower than expected conventional biodiesel numbers in the RVO. That also impacted global vegetable oil prices.
Soybeans, corn, wheat up strongly on weather worries
