Crop Progress USDA’s Crop Progress report lowered the share of soybeans in the combined Good/Excellent category by one point to 57 percent, but that is still one percent higher than last year. Meanwhile, the crop is just about fully bloomed, and pod setting has almost caught up to the recent average.

Soybean Prices Except for the mid-week slump, it was a relatively bullish week for soybean futures considering the good condition of the crop and now favorable rains in the Midwest. The ProFarmer crop tour saw less corn than in USDA reports but concluded that USDA’s estimate of 4.531 million bushels of production was too low by a few thousand bushels. For the week, November soybeans added 57.25 cents, December meal added $26.20...