Trader on the CBoT observe the "long term outlook" of the weather services with voltage. The prospect supports the courses of soy beans on dry and hot weather. Global stocks are less good compared to wheat or corn, once in South America in the spring large amounts of soybeans due to heavy rain events were lost.
Prices for CBoT soybeans make a note of the hour to the closing level of the previous day.
Lower end stocks of soybeans in the upcoming USDA WASDE report expected a poll by the news service of Reuters among market analysts this afternoon. This is among other things to the very strong demand from China and the problems with the crop in South America.
The field stocks of U.S. soybeans are so far considered to be almost ideal. When it actually should be too hot in the Midwest of the United States in August, the bean crops could suffer.
