Soybeans, Corn Firm on Late-Season Weather Concerns

September 8, 2017 12:50 PM
Soybeans, Corn Firm on Late-Season Weather Concerns

Soybean futures posted strong gains as traders covered short positions amid concerns with how the crop would finish given cool, dry conditions across the Corn Belt. Funds covered most of their net short positions and will take near-term trading cues from weather and USDA’s September crop reports. Corn futures followed the soybean market higher, but were only clinging to slight weekly gains as of Friday morning, despite some of the same late-season weather concerns. Wheat futures were also a follower to the upside, with spring wheat leading corrective gains in that market.

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