Soybean futures closed with solid gains on Thursday, boosted by drier Argentina weather and a weaker US dollar. Corn was a bit higher while wheat fell.
Forecasts indicate little rain for southern Argentina through Friday, and most dry weather into early next week in the central and northern areas. With temperatures expected to climb this weekend, crop stress is likely, especially in the more northern areas. Meanwhile, the American dollar fell as traders reportedly assessed tariff risks. March beans gained 13 ¾ cents to $10.45 ½, and November added a dime to $10.61 ¼.
Corn was also lifted by the drier and hotter Argentine forecast, along the softness in the greenback. Funding buying offered further support. March inched up a ½ cent to $4.98 and December gained 3 cents to $4.79 ½.
Wheat was lower most of the session on warmer temperatures coming for the US wheat areas and a lack of palpable export demand, according to Marex. March Chicago fell 6 ½ cents to $5.85 ½, March Kansas City lost 6 ¼ cents to $6.07 ½, and March Minneapolis eased ¾ of a cent to $6.32 ¾.
