Soybeans were higher on commercial and technical buying but did settle closer to the day’s lows than the highs. Many near-term forecasts have hot, dry weather, potentially stressing the crop. Some longer-term outlooks have that continuing into August, a key month for soybean development. The USDA says 62% of the crop is in good to excellent condition, down 1% on the week, with 32% blooming, compared to the five-year average of 38%, and 6% at the pod setting stage, compared to 9% on average.

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