Soybeans Set for Biggest Weekly Gain in Months

U.S. soybeans rose on Friday to head for their biggest weekly gain in more than four months, supported by the threat of rain damage to the Argentine harvest, a wave of fund buying and healthy U.S. export demand.

Reuters reports that corn edged lower but was still set for a second consecutive weekly rise after being carried along by the rally in soybeans and increasing dryness in Brazilian corn areas. Wheat, however, was poised for a second weekly fall as the prospect of more rain relief in dry parts of the U.S. Plains maintained a bearish mood about ample global supplies.

The most active Chicago Board of Trade soybean contract was 0.3 percent higher at $9.50-1/2 a bushel by 1158 GMT, putting it up by 3.7 percent over the week, the biggest weekly run-up since early December.

Corn was down 0.3 percent at $3.72-3/4 a bushel but up 2.9 percent over the week. Wheat slipped 0.6 percent to $4.57 a bushel, leaving it down 0.7 percent this week.


ProAg Quick Links

Agent Toolbox Grower Toolbox Careers

ProAg News

Mild Temps Help Midsummer Fruit Crops

After weather extremes brought a rocky start to the season, the early summer’s mild afternoons have been a boon to peaches and other Central Valley fruits....

Feedback From The Field-July 22, 2019

The 2019 growing season has seen just about every type of weather imaginable, and last week conditions were almost as varied depending on where you farm. ...
Get ProAg updates via email
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now