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Soybean futures this morning are trading another 22 cents higher after posting double digit gains on Monday. Preliminary open interest was down 2,003 contracts, with most of those liquidating July positions buying something in the back months. Prices were boosted by NOAA forecasts showing no precipitation for most of the three I’s and a majority of Ohio through Thursday. Jul16 soy meal was up $8.40 on Monday, and is another $7 here this morning. The USDA reported that 95% of the soybean crop is has emerged, vs. the five year average of 91% at this time. The season’s first blooming progress showed 9% of the crop has bloomed, up 2 points from average. The national condition rating was pegged at 378 on our Brugler500 Index, down 1 point from last week. The condition rating is still 15 points better than this time last year. Yesterday morning, the USDA reported export inspections of 272,066 MT for the week ending last Thursday. Marketing year to date inspections as of June 23 totaled 44.249 MMT, down 7.6% from 2014/15 at that time.