Corn, soybean, and wheat futures all started the week in the green. Nov soybean futures seeing the biggest gains today. Fund short overing likely pushing prices higher, as well as a dryer extended forecast for US soybean areas as we get into Aug. Friday's commitment of traders report showed funds sitting with a record short soybean position and near record short for corn. Weekly US export inspections showed corn, soybeans, and wheat lower than the weekly average needed to meet the USDA's export projection. Corn 38.21 million bushels vs. 41.76 weekly average needed, soybeans 12.02 mil bu vs 15.4, and wheat 8.74 vs 16.22 weekly average. Nov soybean chart below shows today's bump but still far off where we were when beans were being planted.
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