Soybeans were solidly higher on fund and technical buying but ending the session closer to the day’s lows than the highs. Most forecasts have hotter, drier conditions in many key U.S. growing areas extending into mid-month. That will likely cause at least some stress to developing crops and puts the early production projections in some jeopardy. There were also reports of frost damage over the weekend in parts of the Midwest. The USDA expects historically tight supplies this and next marketing year, which starts September 1st.

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