Soybeans ended the day mostly higher on fund and technical buying. The market is watching the South American crop as there are ongoing concerns about dry conditions in Argentina. Earlier this week the Rosario Grain Exchange lowered its estimate for soybean production and just 13 percent of that crop is rated good to excellent. Soybean meal and soybean oil were both higher on Friday, helping provide price support and crush incentive. While the trade will keep a close eye on what’s happening in South America, stateside, it’s watching early planted acreage signals.
Corn was higher on fund and technical buying.