Chicago Board of Trade soybean futures rose on Wednesday after a four-session slide, amid strength in crude oil markets and signs of continued U.S. export demand for the oilseeds, market analysts said.
Soybean and corn futures at the Chicago Board of Trade were pressured by losses in crude oil over the past week, but uncovered support and could see some choppiness ahead of the United States election. The commodities were in a 'tug-o-war' as large supplies were countered by good demand.
Chicago wheat futures climbed on Tuesday after the U.S. Department of Agriculture reported that the U.S. winter wheat crop was in worse condition than the trade had expected, according to analysts.
Chicago Board of Trade soybean futures fell on Monday as crude oil prices dipped and harvest pressure dragged down soy and corn prices, market analysts said.
Chicago Board of Trade soybean and corn futures fell on Friday, as hefty supply from a rapid U.S. harvest weighed heavily over contracts, market analysts said.
Chicago soybean futures edged higher on Wednesday as U.S. Vice President Kamala Harris' lead over Republican challenger Donald Trump in some election polls calmed concerns that a trade war with China could heat up, according to analysts.
Chicago soybean and corn futures turned higher on Tuesday as a flurry of export sales helped stem market pressure from a fast-moving U.S. harvest and improved planting weather in South America, analysts said.
Chicago wheat futures fell sharply on Friday as rains were expected to benefit global wheat-growing regions, analysts said. A shift in Russian export policies also fuelled concerns that U.S. commercial grain companies will be left holding large supplies of wheat.