1. A slight drying trend in the soybean belt added support. 2. After ending last week at their highest price in nearly a year, soybeans extended the rally on prospects that the soybean belt will remain mostly dry. 3. Also pushing prices higher were long-range forecasts for rain in the soybean belt next week, which could stall the harvest. 4. Beneficial harvest weather was forecast through the week in the eastern Midwest -- the heart of the soybean belt. 5. Concerns about the potential for weather-related crop stress in the soybean belt also contributed. 6. Forecasters are calling for a relatively dry weekend throughout most of the soybean belt, allowing the harvest to continue. 7. Forecasts for good weather throughout the soybean belt pressured soybean prices, which also fell sharply on Thursday. 8. Forecasts for dry, warmer weather through most of the soybean belt this week also boosted prices. 9. Gains were expected to be limited, with the harvest picking up steam amid forecasts of continued dry weather for most of the soybean belt through the weekend. 10. Predictions of extreme heat and dryness in the soybean belt next week are likely to put the crop under severe stress. |