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Corn, Soybeans Set One-Week Highs on Weather Concerns

Traders worried about risk of frost damage to late-planted crops

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U.S. corn and soybean futures touched one-week highs on Thursday as traders worried about the risk of frost damage to this year’s late planted U.S. crops, analysts said.

According to a report at Reuters, traders were also covering short positions after recent declines and ahead of the upcoming three-day Labor Day weekend.

They remain nervous about the potential for unfavorable weather to hurt developing corn and soybeans, after historic rains and flooding stalled planting in the spring.

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