Soybean futures are heading lower on Wednesday, with losses of 7 to 8 ½ cents. CME reported preliminary open interest up 4,577 contracts on Tuesday. The cmdtyView national average Cash Bean price is down 8 1/2 cents at $9.25 3/4. Soymeal futures are heading back lower, down $5.10 to $6.30. Soy Oil futures are back up 10 to 31 points. There were 518 delivery notices for August soybean meal overnight, with none issued for soybeans and soybean oil.
Temps are expected to warm up for a good portion of the central and eastern corn belt through the weekend. Precip is seen as limited through Frida, with some forecast for ND an scattered totals in IA and WI. The early part of next week is showing 1 to 2 inch totals expected for southern NE, IA, northern MO, and WI.
