THE OPEN July beans: 7 higher July meal: .30 higher July soyil: 84 higher July corn: 9 1/2 higher July wheat: 6 3/4 higher The markets opened as expected with prices turning higher led by July corn as the sale of corn to China supported bullspreads. Soyoil posts a new contract high from the start of the trading session. Bean bullspreads caved after the start of the day taking July beans for a mixed ride from a higher start to lower on the day. Oilshare found some midday profit-taking. SOY
The soy complex entered into a choppy day of trade as bullspreads weakened, breaking July beans back to the lower end of recent support levels and eventually into new lows when sell-stop...