Soybeans on Upswing as Corn Slips After USDA Acreage Report
Analysts were expecting soybeans and corn futures to keep heading in opposite directions, even though USDA raised acreage and ending stocks for both grains and soybeans in Thursday’s Acreage and Grain Stocks reports. “Corn was the most bearish surprise,” observed Brian Basting of Advance Trading, Bloomington, Ill., and the commentator on a post-report MGEX press call. The soybean rally “underscores the export demand,” he explained. [node:read-more:link]