Soybeans were sharply higher on fund and technical buying. Near-term forecasts have more rain in dry portions of the region this week ahead of an expected generally warmer and drier pattern, further impacting those areas that have already been hit hard by drought or near drought conditions. The worst conditions are in the northern and northwestern U.S. Plains. Indigo lowered their outlook to 4.32 billion bushels with an average yield of 49.8 bushels per acre, compared to the most recent USDA guesses of 4.41 billion bushels and 50.8 bushels per acre.

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