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Commodity News |
HeadLine : |
Soybean futures rise on energy market strength; corn, wheat fall |
Date : |
Oct 6 2021 |
U.S. soybean futures rose 1.3% on Tuesday as a rally in the energy market boosted demand for soy-based biofuels, traders said. Wheat futures were down on profit-taking after three straight days of gains pushed the market to its highest since mid-August. The wheat weakness dragged corn lower. Soybeans were led higher by soyoil, which ended up 3.9% and has risen for 10 of the last 11 trading sessions. Chicago Board of Trade November soybean futures SX1 were up 15-3/4 cents at $12.51-1/2 a bushel. CBOT December soyoil BOZ1 was up 2.31 cents at 61.14 cents per lb. A fast pace of harvest in the U.S. Midwest was hanging over the market.
Source: Nasdaq
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