Soybean stocks valued significantly better than a week ago

Soybeans and Soy Meal were up in yesterday's trading session. The effects of the generally friendly market environment for agricultural commodities are particularly evident here. The weather development also continues to play a role and there is great concern about renewed drought stress in July. However, the USDA has reduced the percentage of fields in very poor condition and increased those holdings rated good or very good by four percentage points to 55 percent. Pre-market the soybean market is showing green signs overall. Both step and oil are trading higher this morning, as are the soybeans themselves. The domestic cash markets are also showing firmer price calls for soybean meal at the wholesale level at the beginning of the week.

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