CHICAGO- US soybean futures rose, with bargain buying in focus after prices fell to their lowest since late July a day earlier, traders said.
Corn futures also ended firm after posting sharp declines on Thursday.
All three commodities traded in both positive and negative territory, with concerns about tightening world supplies providing support while worries about a weakening global economy cutting into demand limited the strength.
Chicago Board of Trade soybean futures for November delivery settled up 9 cents at $13.67 a bushel.
The contract weakened early in the trading session but found support just above the 2-1/2 month low of $13.50 it hit on Thursday.
“The soybean market has become quite oversold and we could very well see some short covering going into the weekend,” TommPfitzenmaier, analyst for Summit Commodity Brokerage, said in a research note.
A rally in the crude oil market added support to soybeans but uncertainty about purchases by China, the world’s largest buyer of soybeans, kept the gains in check.
