soybean futures were on track friday to settle higher for a fourth straight session at their highest since midmay the us department of agriculture left its forecasts for domestic soybean production and demand unchanged in its world agricultural supply and demand estimates report still “real supply and demand is tighter than what the usda is reporting” said darin newsom barchart senior market analyst “we can see that in the inverted futures spreads strong basis difference between cash and futures and the cash market itself” he said now as the el nino climate pattern emerges and the market sees global balance sheets improve “markets are going to be more focused on the demand side of the equation” said jake hanley managing director and senior portfolio strategist at teucrium the mostactive july soybean contract sn23 s00 rose 21 ¾ cents or 16 to 1385 a bushel poised for the highest mostactive contract finish since may 15 factset data show