Soybeans lower to begin the trading week

“Soybeans are trading lower to start the day and have likely been pressured by the increasing tariffs along with good weather last month and less harsh weather expected for August,” Total Farm Marketing said. “Soybean meal is higher while bean oil is lower. OPEC agreed to another hike in oil output which is pressuring crude.”

The weather continues to be mostly non-threatening for crops. “This morning’s radar summary shows scattered rain showers in North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Texas, Minnesota, Iowa, Missouri, Indiana and Kentucky this morning,” Joe Barker, with CHS Hedging, said. “Today’s forecast projects mild temperatures across most of the central U.S.”