Soybeans surpass $17 again in the US

Grain prices were mixed but mostly higher on Wednesday. Export optimism kept corn prices in the green, closing with gains of around 0.5%. The soybean complex fared even better. Soybeans tracked 1.4% higher to move back above $17 per bushel, with soymeal up 1.75% and soymeal climbing 2%. Wheat failed to follow suit after a round of technical selling left most contracts with losses between 0.5% and 1%. A bit of additional rainfall could land on parts of the upper Midwest and eastern Corn Belt between Thursday and Sunday, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s new 8-to-14-day outlook predicts seasonally cool weather for the upper Midwest and Great Lakes region between March 30 and April 5, with widespread wetter-than-normal conditions across the Midwest and Plains during that time. On Wall St., the Dow dropped 341 points in afternoon trading to 34,466, with rising oil costs sparking fresh fears over inflation. Energy prices jumped substantially ...