Soybeans closed modestly higher on short covering and technical buying, with contracts pulling out of mixed territory late and ending the week solidly higher. Beans were watching weather, expecting a move to a wetter, cooler pattern in many areas during the first full week of September. Some yield loss is probable from the hot, dry pattern seen in many areas during August, but the full extent likely won’t be known until harvest wraps up. IHS Markit, formerly Informa, pegs the crop at 4.323 billion bushels with an average yield of 52.1 bushels per acre.

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