Commodities
Soybean Futures Reach Three-Year Highs Amid Crude Oil Rally
Soybean futures at the Chicago Board of Trade (CBOT) surged to three-year highs on Thursday, driven by a rally in crude oil and solid export demand.
The U.S. Department of Agriculture reported flash sales of 272,000 tonnes of soybeans to China and an additional 206,500 tonnes to unknown destinations, contributing to the gains.
Average trade guesses call for small cuts to yields and production from the August forecast in Friday's monthly USDA supply/demand estimates, which is expected to have a significant impact on market positioning.