Grain traders added weather premium to the soybean market Monday, even though there is some rain in South America’s near-term forecast. “Spotty showers are in the forecast the first week of January. That dampened the markets early on, but as the session continued, the markets started to charge back up,” says Randy Martinson, president, Martinson Ag Risk Management. “Another week of thin trading and we could see this market get explosive.” South American weather remains the major focus for traders. “Right now, everyone has their eyes on what’s happening in southern Brazil and Argentina. Perhaps that dryness could get worse.”
