Soybeans closed higher Wednesday resulting partly from Brazil’s hot, dry weather concerns. DTN says it’s causing doubts that Brazil will produce a record crop. There are also domestic demand uncertainties. Cash soybeans have an FOB price of $9.33 in New Orleans indicating some export demand. There’s encouragement from ongoing trade negotiations with China.
Corn closed mixed despite Brazil’s hot and dry conditions. DTN quotes FOB corn prices at Brazil’s ports at 20 cents above prices in New Orleans but they’ve backed down from mid-December highs.
Continue reading Soybeans supported by Brazil’s weather concerns at Brownfield Ag News.
