The beans and meal market had a healthy bounce today. The weather over the weekend was mostly as expected. Moderate rainfall with certain areas not receiving any. There is some disagreement as is true every year. The areas that have received rain are showing improvement.The dry areas which have shrunk,are sitting and waiting for the rains that will aide the yield. The big question is if this will be the case. The crop either way is substantial. How substantial remains in play and will be the ultimate result for price discovery. The usda will release estimates this week. This is sure to have a impact over the balance of the growing season. Most anticipate a slight draw down in old crop stocks with a ample new crop figure. The products are certain to play a large role moving forward,as well as the competitive proteins and feedgrains. The rallies in beans may prove to be a opportunity for the hedger and speculator alike. As always quantify your risk .
Be well