The Market The trade is spooked about the current weather pattern. This is especially true for corn but it is becoming a factor in oilseeds as well. This week’s Drought Monitor showed 51 percent of soybeans in the U.S are now drought conditions. Add to that another cut in Argentine soybean production and the impacts of El Nino on palm oil production in Southeast Asia. Meanwhile, demand stays strong with NOPA May crush a record for that month. In the end, it is clear why a weather premium got added late this week ahead of a three-day holiday hiatus for the market.  For the week, July soybeans added 80 cents (5.7 percent), July meal went up $19.20 (4.8 percent), and July soyoil gained 5.1 cents (9.3 percent).

For the week endi...