Commodities
Wheat and Soybean Markets Rise on Technical and Fund Buying
The wheat market was higher this week due to fund and technical buying, with Chicago and Kansas City rising sharply.
Soybean prices also increased on account of technical and fund purchases, leading to a higher weekly finish.
Crop weather remains generally favorable, but there are areas of concern, particularly in August when bean development is crucial.
The USDA reduced its yield estimate this week, but the production forecast was higher due to an upward revision in acreage.