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Corn gains, soybeans rally after USDA numbers

Soybeans were higher on commercial and technical buying after a wide-ranging session, closing higher for the week as well. There was an initial bearish reaction after the USDA raised U.S. production, yield, and old and new crop ending stocks estimates, but that pressure eased shortly after. Those increases in production and yield were despite weather issues and reduction in acreage following a resurvey in the northern Plains. The USDA cut both planted and harvested area by 300,000 acres.

Corn gains, soybeans rally after USDA numbers

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