July soybeans hit a high last Thursday at 17.41, last year at this time we were trading around 13.60.

We closed today close to 16.60, so 3 dollars per bushel above where we were last year at this time.

 Last year’s high for July beans was 16.67, so prices were nearly a dollar higher than last years high as of last week.

The reason we are pointing this out, is yes, the news is bullish but the market is factoring in bullish news as well, with prices much higher than last year and in some cases approaching all-time highs.