Soybeans and soymeal rise on US crush data; wheat rebounds
U.S. soybean futures rose Tuesday as soymeal futures surged more than 2% after an industry report showed a smaller-than-expected soybean crushing pace in August, analysts said. Crude oil price gains provided additional support to soybeans and corn, while wheat rebounded.
S. soybean futures gained on Tuesday, while soymeal jumped more than 2% after a monthly industry report showed August soybean crush came in below expectations, analysts said. Higher crude oil prices on NYMEX:CL1! also supported soybeans and corn, while wheat rebounded.