Soybeans were mixed on spread adjustments, with nearby contracts modestly lower. The USDA’s national good to excellent rating for beans was down 2% on the week, including an 8% drop in Iowa. Several million acres of key U.S. cropland were damaged by last week’s derecho, but the full impact of the storm might not be evident until harvest wraps up. There is some potential for crop stress in some areas because of mostly dry weather during key phases of development.

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