June 29, 2022

Soybeans thrive in Chicago with US exports; Corn and wheat will also rise

By Mark Weinrob

CHICAGO (Reuters) – Chicago-based soybeans, wheat and corn futures closed on Friday as three items recovered from a fall overnight.

The firmness of soybeans stems from indications that demand for U.S. supply remains strong despite the availability of freshly harvested South American oilseeds in the market.

The future of maize has benefited from the adjustment ahead of next week’s report on US farmers’ planting plans to be released by the government.

Wheat rose after a three-day slump as investors provided protection against rallies arising from the conflict between Russia and Ukraine.

On the Chicago Stock Exchange, May soybean futures rose 9.50 cents to $ 17,1025 a bushel.

May corn rose 5.75 cents to $ 7.54 a bushel. Wheat for May was up 16.50 cents at $ 11,0225 a bushel.

(Additional Report by Gus Trombis in Paris and Naveen Thukral in Singapore)

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