THE OPEN July beans:  17 higher July meal:  3.30 higher July soyoil:  1.13 higher July corn: 3 1/2 higher July wheat:  7 lower The markets opened as expected with profit-taking initially.  New buying is flowing into the Dec corn and Nov bean contracts, as open interest and higher prices creates more bull market activity, thus weakening the spread trade.  Volumes are increasing as more countries return from holiday, and sharply higher overseas markets spilled over into this current session.   Slightly more hedging was noted on the rallies, but it still seems like selling orders are over the market.  The drought situation in the Midwest and in the Northern Plains and in Brazil underpins all p...