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U.S. corn and soybean futures rose on Monday as crude oil prices surged, offsetting pressure from favorable Midwest weather for late-developing crops. Confirmation of further Chinese purchases of U.S. soybeans also supported the market.
Wheat firmed alongside corn on dry conditions in parts of the Southern Hemisphere.
Higher crude oil lifts ethanol and biofuel economics, which supports corn demand. Continued Chinese buying supports soybean and meal prices for feed buyers.
feedandgrain.comDec 1, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
