Chicago soybeans slip after rally; corn and wheat rise

Chicago soybean futures eased as traders booked profits on Wednesday following a three-day price rally driven by strength in soyoil and the broader energy market, while ongoing tariff uncertainty capped further gains. The most active soybean contract dipped 0.23% to $10.72 per bushel, though it still hovered near a one-month high. Support for agricultural commodities such as soybeans and corn has been underpinned by rising energy prices, fuelled by escalating tensions between Israel and Iran. Higher crude oil prices improve the competitiveness of soyoil and corn as biofuel feedstocks. Brent crude futures rose 0.3% to $76.71 a barrel, as of 0440 GMT. U.S. West Texas Intermediate crude futures rose 0.5% to $75.19 per barrel. Market participants are closely watching developments in U.S. biofuel policy. A tax bill proposed by Senate Republicans on Monday would extend a clean fuel tax credit through 2031 but reduce its value by 20% for biofuels made from feedstocks produced outside the ...