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“Prices were mostly lower with beans down $.02-$.08 led lower by spot July. Meal was fractionally higher while oil was off 30-40 points. Bean spreads remain under pressure after several Midwest processors switched their spot bids from the July contract to the new crop Nov futures, effectively dropping cash bids $.50-$.60 cents. July has slipped to a $.15 inverse over Nov-25, down $.15 from its recent peak. Next support for July futures is this month’s low of $10.32 ½ followed by the April low at $9.85. Huge range in July-25 oil today with prices closing moderately lower,” reported Mark Soderberg with ADM Investor Services.
