Ahead of the USDA’s June 30th Planted Acreage and Stocks report, the main focus will be the weather. Given the great start to the crop, traders can look for bearish futures and option plays for November soybeans. Normal weather could keep the trend down into the key USDA report date of June 30th, at which time, the market will get another read on whether we face a) record tightness for the end of the 2013/14 season or b) enough short-term supply and enough soybean and meal imports to move up to the wall of supply that awaits the market at harvest.
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