Soybeans Push Higher

在一夜之间，谷物较高，大豆将充电率提高7 1/2美分，小麦高4 1/4美分，玉米下降了1/2。七月大豆现在的交易超过9.74美元，这是周五关闭以下的100天移动平均水平。原油今天早上上涨了22美分，美元仅占百分之一的一小部分。预计今天CST下午3点，USDA作物的进度将消失。

On Friday, Informa Economics lowered its estimate of U.S. soybean plantings this year to 86.760 million acres down from 87.185 million acres in its previous forecast. Despite the downgrade, Informa is still above the current USDA estimates of 84.635 million acres which was released in March. The USDA will revise its Planted Acreage estimate on June 30th.

The European Union’s crop monitoring service MARS revised its yield estimates from 5.93 tons per hectare to 5.85 metric tons per hectare as a result of low soil moisture throughout the western and central parts of Europe. Higher than normal temperatures early this month accelerated development of crops in Spain Italy and Southern France, but the lack of soil moisture recently has begun to stress the crop. MARS has left corn yield estimates unchanged.

U.S. weather is expected to bring widespread showers later on this week which should continue to help the crops development. Following the showers on Thursday and Friday the outlook shifts to a drier milder outlook.

—Cody Bills