Soybeans were sharply higher on commercial and technical buying. Most forecasts continue to show a return to hot, dry weather in many areas next week, potentially impacting yield. August is the critical month for most of the U.S. soybean crop. The USDA’s first official yield guess of the season is out August 12th, along with updated acreage numbers following a USDA resurvey of producers. Planting was delayed in some areas by excessive rainfall and likely led to at least some replanting and acreage switching.
