Soybeans Higher in the Overnight

谷物今天早上混合在一起，玉米交易高3美分，小麦3¾美分和八月大豆今天早上高12美分。八月大豆合同的交易价格为12.24½美元，并于7月31日（星期四）首次通知。目前，八月至九月的大豆之间的差额为96½美分，低于7月初的1.40美元以上。

Over the weekend rains were scattered, but there are still areas of dryness in the western parts of the Grain Belt. This morning, the 6 to 10 day forecast is showing a drier than normal trend throughout most of the grain belt, but 8 to 14 day forecast looks to bring in more precipitation in the eastern and southern parts of the Corn Belt. Dryness in some parts of the Midwest has been a concern, but the lack of heat stress has limited its damaging effects.

Europe’s wheat harvest has been interrupted again by more precipitation helping perpetuate the quality concerns for this year’s wheat crop. Currently there is a large gap of up to $40 a ton depending on the quality of the wheat. In Germany, the showers should delay harvest only temporarily as hot weather allows producers to get back into the field following the rain event.

Australia which is currently struggling with dryness looks to see another three months without much relief. The Bureau of Meteorology said Thursday that dry weather is likely to persist across eastern Australia for the next three months. There’s around 60% chance of below median rainfall in northern Queensland, Southern New South Wales and most of Victoria. If these forecasts were to actualize, we would see a drag on yield from the world’s third largest wheat exporter.

—Cody Bills