Weekly export numbers leaned towards the bearish Side But Soymeal were favorable.remember Argentina the leader in Soymeal exports so as long as US soymeal exports stay strong it may keep Soybeans buoyant.Weather in argentine is less of concern for next few days,but some concern in 8-15 day forecast of possibly more rain.The slowdown in rain is great but the wetness of the fields is still a concern as farm equipment will struggle with wet ground.Today at 1 :00 we get an update from Argentine grain exchange on Crop damage.Earlier today the International grain Exchange cut world supplies By 5 million tons,but be aware that world-wide crops will still be near a record high, for now.
US rain forecasts show a little more rain for midwest in next 2 weeks compared to yesterday’s outlook.
First notice day for may grains is tomorrow.