CBOT soybean, corn futures jump, focus on key USDA report

On June 30, according to media reports, CBOT soybean and corn futures rebounded on Friday, both jumping more than 1%, due to concerns about dry weather in the Midwest of the United States, and adjustment of positions before the release of the key U.S. acreage report later today.

Since late May, the drought in major US soybean producing areas has continued to intensify, and US soybeans have risen sharply driven by weather factors.

In July and August, soybeans will enter a critical grain-filling period, and the impact of weather factors will be more obvious.

Commodity funds were net buyers of CBOT soybean and soymeal futures contracts on Thursday, and net sellers of corn, wheat and soyoil futures contracts, traders said.