Soybeans, corn supported by weather concerns

Soybeans were sharply higher on speculative and technical buying. August might be the critical month for beans, but the trade is already concerned about expanding drought in the Midwest and Plains. There’s scattered rain in the forecast, but that will have to actually materialize and it could miss some of the drier areas with a warmer pattern waiting in the wings. While U.S. export sales were up on the week, Brazil continues to control the market.

…