Soybean futures closed on Friday, May 8, with a 14-cent increase on the week as the market took notice of Chinese trade discussions and potential early weather issues.
Beans are off to a quick start in terms of planting progress given the favorable weather over the last two weeks. However, there is a potential for frost damage to early emerged seedlings, particularly in the northern and eastern part of the Corn Belt. This early in the season, farmers could replant a few acres without a detrimental hit to the balance sheet, but the situation is something to monitor. Mother Nature sure has a way of letting you know she is in control!
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