In today’s grain market session, soybean futures price reached $11.84 per bushel. Forecast models suggest a 2-4% potential rise if weather stress persists in key South American growing regions, trimming future harvest expectations. In an interview with NBC's "Meet The Press," U.S. Senate Majority Leader John Thune, the Republican of South Dakota, said farmers would likely need an aid package from Congress as a result and that federal lawmakers could use funds collected from the tariffs to pay for the financial assistance. Fundamentally, the soybean futures market last week got a friendly USDA monthly supply and demand report, a bullish monthly crush report, and it appears traders have already factored into present prices a bumper U.S. soybean crop to be harvested this fall. Icing on the cake for the bean bulls in the coming weeks would be better U.S.-China trade relations that would likely mean better Chinese demand for U.S. soybeans. The soybean futures price currently stands at $11.73 per bushel. Futures curves suggest upward tilts in deferred contracts, indicating market participants expect tighter supplies in late 2024 due to weather volatility.