US Agricultural Markets Experience Price Volatility in Final Week

The US agricultural market saw significant price movements at the end of last week. Corn futures closed steady at $4.87 1/2, near mid-range and reached a two-month high early on. However, profit-taking pressure caused prices to pause for the day.

Soybeans rallied, with November soybeans rising by 9 3/4 cents to $12.53 1/2, nearing the daily high and hitting a new contract high. September soybean meal also gained, increasing by $2.00 to $330.80, near mid-range and reaching an eight-month high.

However, September bean oil fell by 122 points to 73.47 cents, nearing the daily low and for the week down 46 points. The solid losses in crude oil futures negatively impacted the bean oil futures market.