Soybeans are back to mixed action on Friday, with mostly weaker trade showing up. August is up 1 ¼ cents, with the rest down 3 to 4 cents. Open interest was up 20,965 contracts on Thursday, suggesting net new buying interest. The cmdtyView national average Cash Bean price is own 3 3/4 cents at $9.32 1/2. Soymeal futures are mixed, with the front months up a dime to $1.90. Soy Oil futures are down 49 to 61 points on the day. There were 124 delivery notices for August soybean meal overnight, with 20 issued for soybean oil and none against August soybean.
The 7 day forecast is creeping higher, with totals up to 1-nearly 5+ inches for parts of IA, southern WI, northern MO, and northwest IL in the next week. Areas in KS, MN, IN and MI are also expected to receive nearly an inch.
