The expanding drought conditions across the heart of the country sent soybeans higher Friday. The biggest concern is that the drought conditions are hitting some of the highest-producing parts of the country. And while there’s some scattered rain in the forecast, it still has to materialize. The market is also finding strength as soybean oil stocks fell and the prices pushed higher. Soybean meal export demand is improving. Also contributing to support Friday, Rosario Grain Exchange again dropped Argentina’s soybean crop as harvest is over.
Weather concerns continue to support corn, soybeans
