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Commodities

Corn, Soybean Prices Surge Amid Rumors of Chinese Purchases

Guavy AI Editorial Team
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Corn
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Corn prices closed the day up more than 8 cents on Monday, August 3, as rumors of Chinese purchases and technical short covering fueled a market rally.

The Grain Market Insider newsletter by Stewart-Peterson Inc. attributed the increase in corn futures to these factors, stating that 'corn found buying interest early in the week.'

Soybean prices also rose, with November soybeans up 4.75 cents at $11.92.25 per bushel.

The rally in soybean prices was attributed to a combination of technical buying and talk of Chinese purchases, according to the Grain Market Insider newsletter.

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