Weekly Recap

Soybeans surged last week. The July futures contract moved 31.5 cents per bushel higher; it’s the fourth consecutive weekly close higher. The August contract gained 33.75 cents per bushel.  Exports continue to run above USDA forecast despite raising export activity by 10 million bushels. Export commitments are 102% of expectations with 11 weeks to go. The cash basis moved higher in Minneapolis and Toledo, and…