Soybeans were higher on fund and technical buying, along with a more stable tone in the broader market. Most forecasts have hot, dry weather for some key U.S. growing areas into August, likely causing at least some degree of stress to developing crops. This is a big concern because of the historically tight ending stocks projections through the end of next marketing year, which starts September 1st and runs until August 31st, 2022. U.S. soybean condition ratings were mixed on the week, with the worst individual state ratings in Minnesota, North Dakota, and South Dakota.
