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CHICAGO- US soybean futures rose, gaining ground on corn contracts as the market tried to entice farmers to boost acreage of the oilseed despite the yellow grain’s rally to its highest in nearly eight years earlier this week.
“The last two weeks all the talk has been about the corn and the dryness and the cold weather,” said Mark Gold, managing partner at Top Third Ag Marketing. “Today it is just the beans saying, ‘Don’t forget about us.’”
Corn futures were mixed, with nearby contracts weakening as funds liquidated long positions and new-crop contracts holding steady on concerns about early planting in the US Midwest.
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