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Corn, Soybeans May Rise As Wet Weather Extends Planting Delays

Corn and soybeans may rise this week as wet weather extends U.S. planting delays in the eastern Midwest and northern states.

Corn and soybeans may rise this week as wet weather extends U.S. planting delays in the eastern Midwest and northern states.

Twenty of 27 traders and analysts surveyed from Tokyo to Chicago on May 20 said corn will rise, and 20 of 28 respondents forecast a gain for soybeans.

Last week on the Chicago Board of Trade (CBOT), corn futures for July delivery jumped 11%, the biggest gain since October, to $7.59/bu. Soybean futures for July delivery rose 3.8%, the most since January, to $13.80/bu. on the CBOT.

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