“`html
Soybean futures are declining on Wednesday, with prices down 7 to 8.5 cents, as the CME reported a preliminary open interest increase of 4,577 contracts on Tuesday. The cash bean price has fallen to $9.25 ¾, a decrease of 8.5 cents, while soymeal futures are down $5.10 to $6.30. The soy oil futures saw a slight increase, gaining 10 to 31 points. Additionally, there were 518 delivery notices for August soybean meal overnight, with none for soybeans and soybean oil.
Weather forecasts indicate rising temperatures across the central and eastern corn belt through the weekend, with limited precipitation expected until Friday, except for some areas in North Dakota, Iowa, and Wisconsin. Early next week may bring 1 to 2 inches of rain to parts of southern Nebraska, Iowa, northern Missouri, and Wisconsin.
As a separate development, President Trump is set to implement tariffs ranging from 25% to 50% on India starting August 27 if the country continues to import Russian oil amid ongoing trade tensions.
“`
