Soybean futures, along with other agricultural commodities, rose today thanks to the moderately positive report on the US employment market. The oilseed is currently demonstrating a robust weekly performance — the best once since June 28.
The commodity traded in a slow upward channel before the US
The growth of agricultural commodities is supported by the adverse weather forecasts. The additional boost was provided by the agricultural reports showing underproduction of cereals and oilseed compared to the previous years and this year’s forecasts.
Soybean November futures added more than 1.6 percent today on CBoT, rising from $9.43 to $9.59 per bushel as of 17:18 GMT.
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