Weekly Recap

July Soybean futures continue to trend upward. This is the sixth consecutive weekly move higher since setting contract lows for the year. The July contract jumped 4.32%, or 43¼ cents per bushel, on USDA stocks data that showed inventories to be less than anticipated. Soybean exports were disappointing and down by 63.5% for the week, they are, however, still running 102.5% of the USDA forecast for the year,…