Weekly Recap

Soybeans moved higher for the second straight week. The July contract was up 3.75 cents while the August contract gained 5.25. Beans had been solidly higher earlier in the week, but sold off most of the gains on Friday and limped into the weekend. Soybean export sales were up 26% and commitments are 102% of projections with 13 weeks to go. Plantings are no longer racing ahead of last years pace and the 5-year…