Dry Hot Weather Helps Short Squeeze Continue

Short covering and dry weather have combined to help bean meal prices rise in July, but prices have surged into oversold conditions after breaking out on Monday. Crop quality has turned lower, giving a boost to soy beans, which has help drive up the entire bean complex. The forecast continues to show hotter and dryer temperatures covering most of the mid-west, which should continue to keep prices buoyed.

The…