Soybeans were lower overnight with wheat and corn slightly higher. That was also today’s pattern, except that wheat found good buying soon after today’s session opened and traded 12 to 16 cents higher in all three wheat markets for most of the day. It was more talk about how bad the EU drought has gotten that pushed wheat higher. More angry words between the U.S. and China kept pressure on soybeans. The six- to 10-day U.S. weather forecast looks hot and dry across most of the Corn Belt and northern plains as today’s maps show:

This forecast should be somewhat positive to soybeans. The USDA will release their crop production estimates and supply/demand revisions (WASDE) this Friday. Corn and soybean markets should be t...