CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, with soybeans leading to the upside on the back of solid export demand and a rally in world vegetable oil markets.
The front-month contract moved well above the psychological $10 per bushel mark, which may bring in some farmer selling (all figures US$).
Wayne Palmer of Agri-Trend Marketing noted the $10 mark had proved hard to break above in the past, but said the momentum may finally be there to keep above that level.
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