# Soybeans extend gains on fund buying; corn, wheat also up - Agweek | #1 source for agriculture news, farming, markets

> U.S. soybeans rose about 2 percent on Wednesday to new eight-month highs, with CBOT May soybeans reaching $10 a bushel for the first time since before last autumn's harvest. Corn and wheat also rose sharply as investment funds added long positions in record volume and open interest. The rally extended a dramatic April move tied to fund buying and rain-related delays in Argentina's harvest.

- Date: 2016-04-21 · published 2016-04-21T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/7716-soybeans-extend-gains-on-fund-buying-corn-wheat-also-up-agweek-1-source-for
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Heavy fund buying and delayed Argentine harvest supplies lift near-term prices across the grain complex, though the move may be driven more by positioning than by fundamentals. Buyers should expect elevated and volatile feed grain and meal costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Sources

- agweek.com: https://www.agweek.com/business/soybeans-extend-gains-on-fund-buying-corn-wheat-also-up

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.