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Wheat leads on global supply concerns

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Soybeans were mostly higher, adjusting spreads. Most forecasts have warm, dry weather late this month into next month, potentially stressing the crop and trimming yields. The USDA’s updated yield and production projections are out August 11th in the monthly supply and demand report. Soybean meal was mixed on bull spreading, while soybean oil was up sharply on oversold signals and demand expectations. Grain trade group ANEC projects Brazil’s soybean exports for July at 8.8 million tons, compared to the year ago total of 7 million, with soybean meal exports of 2.584 million tons, which would also be above last year.

Wheat leads on global supply concerns

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