Soybeans were sharply lower on fund and technical selling but managed to avoid a limit down finish. Most weather outlooks have broad rain coverage in the Midwest over the next 10 days. That’s expected to hit some of the drier areas of the region but could cause flooding in other areas. The USDA says 59% of U.S. soybeans are in good to excellent shape, down 1% on the week and 12% from this time last year, with 29% of the crop blooming, compared to the five-year average of 24%, and 3% at the pod setting stage, matching the average.

…