Good morning!

The soybean market is on fire again this morning, both soybeans and soybean meal have made new all-time highs.  Soybean meal actually made new highs during the trade yesterday and again overnight/this morning, leading the charge.

Generally, there are a lot of positive inputs this morning, weather is bullish (drier), outside markets are bullish, the strong close yesterday now has the charts looking friendly for the technical and Pro Farmer Tour is out making noise that the bulls are eating up. 

Re: Pro Farmer -- long story short pod counts in Ohio and South Dakota look lighter than expected – (it is too early to get yield #s).  Corn yields in Ohio and South Dakota seem to be coming in below estimates as well, 110.5bpa for OH and 74.3bpa for SD. The USDA bpa was at 126 and 98 respectively.

More news will continue to come out today and tomorrow – as you may remember from previous years there are two groups of scouts; one starts in the west, the other in the east – meeting in the middle later this week.   

Currently

Corn is 4 to 6 cents higher

Soybeans are 20 to 28 cents higher

http://www.fccoop.com/markets/information.cfm