Soybeans rose in overnight trade

Soybean futures jumped in overnight trading amid very hot weather in parts of the US Midwest and Delta. Heat index values ​​of 110 degrees Fahrenheit are expected today and tomorrow in several states, including parts of Kansas, Oklahoma, Missouri, Arkansas, southern Illinois and Indiana, according to maps from the National Weather Service.

About 89% of Iowa is experiencing drought conditions as of June 27, up from 83% the week before and 32% three months ago, according to the U.S. Drought Monitor. The observatory said 93 percent of Illinois are dehydrated, up from 82 percent in the previous week. The zero municipalities in the state have been suffering from a drought for the past three months. Drought-ridden Kansas increased from 79% to 85% this week.

Parts of Kansas, Missouri, southern Iowa and Illinois have had little or no rain over the past seven days, the NWS said. However, the gains are limited to precipitation demands in some very dry regions.

Rainfall will expand across the central Midwest and Southeast through Sunday, the weather comedy group said in a report. Rain is expected Wednesday and Thursday and again in the 11- to 15-day forecast and will be good for the central and southern Midwest, according to the CWG. The meteorologist said parts of Minnesota, Wisconsin, northeastern Iowa, Michigan and Missouri will remain dry.

Soybean futures for November 15 3/4 delivery jumped to $12.81 a bushel overnight on the Chicago Board of Trade. Soybean meal rose $3 to $383.50 a short ton, while soybean oil rose 79 cents to 55.76 lbs. Corn futures for December 1/4 delivery rose, settling at $5.29 a bushel.