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Soybean basis dropped sharply amid the surge in futures, but the average cash price still rose sharply.

After the Bell | July 5, 2023

Expectations for the future jumped, while current conditions were unchanged.

Negotiations deadlock between Teamsters union and UPS

Corn and winter wheat futures are likely to open lower, with soybeans expected to favor the upside.

Forecasts call for multiple rain chances for the Plains and Midwest into mid-July, with central and southern areas expected to be the wettest.

Soybean and spring wheat CCI ratings continue to drop.

Soybeans extended Friday’s strong gains but came well off the highs into the close. Corn and wheat failed to maintain earlier corrective gains.