Soybeans Finish Mostly Higher Amid Ongoing Crop Development Weather Concerns

The soybean market finished mostly higher on the day, but well off its highs. The trade continues to monitor crop development weather, as 85 percent of the soybean crop is in the pod setting stage.

The USDA reported a sale of 136,000 tons of soybeans to China, and while global news has been relatively quiet, major private crop tours are underway. Crush margins remain solid, with soybean meal finishing higher for the day.

Corn prices pulled back from early highs, as the market monitors crop development weather. Temperatures could push the crop to maturity ahead of normal, while Argentina's July corn exports reached a record 5.14 million tons despite delayed harvests.