US soybean and corn markets rise on weather worries and Chinese demand

Chicago grain futures closed Friday with U.S. soybeans up 0.78% to $12.53 per bushel, while corn was nearly unchanged and wheat fell. The soybean rally was driven by forecasts of below‑average rain in the Midwest and Great Plains during the flowering stage, and by reports that China bought about 1 million tonnes of U.S. soy for shipments later this year. Analyst Ronaldo Fernandes noted, “El clima sigue siendo un riesgo importante,” emphasizing the weather risk.

At the same time, agricultural fund managers increased their net long bets on CME corn contracts by 55% and on soy contracts by 105% over the prior week, according to CFTC data. USDA data showed 20% of the corn‑planted area in drought, up from 19% a week earlier, adding to the supply‑side concerns.

Both the price moves and the speculative positioning reflect a market reacting to tighter U.S. crop conditions and strong overseas demand, especially from China.