Soybeans were mostly modestly lower, except for the lightly traded July 2021 contract. Near-term forecasts have much-needed rain in some areas against excessive rain in other parts of the region. That is expected to stabilize the USDA’s condition rating at least somewhat, while August is usually considered to be the critical month for soybean development. Still, carryout projections through the end of the 2021/22 marketing year continue to be historically tight and beans will need a trend-line yield or better to meet that goal.

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