Corn, Soybeans Cap Biggest Weekly Advances Since June 2023

Corn and soybean futures capped their biggest weekly gains in nearly two years, as the outlook for demand improves despite heightened trade tensions with China.

The corn most actively traded contract in Chicago rose 6.4% this week, while soybeans futures gained 7.8%. In both cases, the weekly rallies were the largest since June 2023.

The US Department of Agriculture raised its outlook for American corn exports in a Thursday report, citing “relatively competitive” US prices. That’s set to tighten stockpiles for the current season. It also increased its soybean crush estimate by 10 million bushels citing higher domestic use for ...