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Soybean Market Adds to This Week's Gains

Farm markets hit multiweek highs this week

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On Wednesday, the CME Group’s farm markets lean on the soybean complex for strength, reports Successful Farming.

At the close, the Dec. corn futures finished unchanged at $3.94¼. March corn futures finished 1¢ lower at $4.05¾.

“Yesterday’s markets reached multiweek highs as a result of short-covering ahead of the USDA report on Thursday, plus concern over the inbound winter storm," Al Kluis, Kluis Advisors told Successful Farming. "The snowfall forecasts are highly variable, but the freezing temperatures are for sure. The growing season will end for much of the northern Corn Belt in the coming days."

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