Chicago Board of Trade soybean futures hit their highest level in more than a week on Thursday as technical buying helped the market recover from a three-month low reached on Monday, analysts said.
Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while corn futures rose for a third day to extend a recovery from contract lows, analysts said.
Chicago Board of Trade soybean futures touched a two-week high on Friday on worries that heat may threaten U.S. crops and expectations that the country's biofuel policy would boost demand for soyoil, analysts said.
Chicago Board of Trade corn futures set contract lows and soybean futures sagged on Friday on expectations that beneficial weather for U.S. crops will lead to bumper harvests, analysts said.
Chicago Board of Trade corn futures extended losses on Tuesday to approach a 2025 low as improved U.S. crop ratings and forecasts for more benign weather fueled expectations for a bumper harvest.
Bargain buying and short covering lifted U.S. corn futures on Monday after the market slid to contract lows on expectations for strong U.S. output, traders said.
U.S. President Donald Trump's plan for a 50 per cent tariff on goods from Brazil will likely raise prices for the beef that is used in American hamburgers, traders and analysts said on Thursday, as food manufacturers increasingly rely on imports during a time of declining domestic production.