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Soybean futures are currently 17 to 21 1/4 cents higher, after trading steady to just 3 cents higher this morning. Trade today follows the Thursday session in which prices were down 14 to 22 cents. A three to five day Midwest weather outlook shows scattered showers are forecasted to start over the weekend, with moderate to heavy totals expected to slow planting progress. The Buenos Aires Grain Exchange predicts that 1.94 million soybean acres in Argentina were lost because of heavy rainfall. Growers have also been having difficulty with soybeans going out of condition. The Argentinean soybean harvest is estimated to be 41% finished, compared to 69% at this time last year.
May 16 Soybeans are at $10.24 3/4, up 21 1/4 cents,
Jul 16 Soybeans are at $10.30 1/2, up 18 1/4 cents,
Aug 16 Soybeans are at $10.32 1/2, up 17 3/4 cents,