Soybean Futures Higher

May Soybeans are trading 1044, up 8 1/4 cents/bushel. November Soybeans are trading at 1026 1/4, up 8 cents/bushel. May Soymeal is trading at 338.2, up 1.8 $/ton. May Soybean Oil is trading at 34.37, up 0.44 cents/lb. Soybeans futures are trading near the session highs. Market chatter about various global weather forecasts is making the rounds. Australia's Bureau of Meteorology said there has been increased warming over the equatorial Pacific during the last two weeks and raised the chances for an El Nino weather pattern to develop in July or August. There is also a lot of chatter about changes in U.S. policy that would limit imports of biodiesel from Argentina.