Benchmark corn futures Cv1 on the Chicago Board of Trade hit their highest in a year on Monday and soybean futures Sv1 notched a three-month top on follow-through buying after the U.S. Department of Agriculture last week cut its estimates of the size of the U.S. 2024 crops, analysts said.
Chicago soybean and corn futures surged on Friday after the U.S. Department of Agriculture projected lower-than-expected U.S. production after a dry end to the growing season.
Chicago soybean and corn futures ticked up on Thursday as traders squared positions ahead of a major U.S. Department of Agriculture supply-and-demand report due on Friday.
Chicago corn, soy and wheat futures dipped on Wednesday as the dollar jumped on uncertainty over U.S. President-elect Donald Trump's tariff plans, and as investors squared positions and awaited supply and demand data from the U.S. Department of Agriculture.
Chicago soybeans ticked lower on Tuesday as expectations for rain relief in Argentina encouraged profit-taking, after drier forecasts and a softer dollar fueled gains during the previous session.
Chicago Board of Trade corn futures Cv1 on Monday surged to a more than six-month high amid growing concern over dry conditions in Argentina, market analysts said.
Chicago soybean and corn futures were higher in see-saw trading on the first trading day of 2025, supported by ongoing concerns related to dry weather in South America, especially Argentina, a leading producer of both commodities.
Chicago soybean, corn and wheat futures rallied on Tuesday on short-covering and concerns over weather conditions in South America and Russia, market analysts said.