Soybeans were modestly higher on short covering and technical buying. Near-term forecasts do have rain in parts of the Midwest, but it still might miss some of the drier parts of the region. That includes the expanding drought in areas of Iowa and Nebraska. Allendale’s producer survey pegs the 2020 U.S. soybean crop at 4.311 billion bushels with an average yield of 51.93 bushels per acre, less than what the USDA was anticipating last month because of weather woes.

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