CHICAGO--U.S. grain and soybean futures were higher in early trading Friday amid a sharply lower U.S. dollar and signs of robust demand for some crops.
Soybean prices rose after notching a fresh almost two-year high in the previous session as weekly export sales data provided evidence of strong demand for U.S. supplies of the oilseeds. The U.S. Department of Agriculture said net soybean sales for the week ended May 26 totaled more than one million metric tons for the 2015-16 and 2016-17 crop years, which fell toward the high end of analyst expectations.
Soybean futures for July rose 18 3/4 cents, or 1.6%, to $11.63 a bushel at the Chicago Board of Trade.
CBOT July corn added two cents, or 0.5%, to $4.17 1/4 a bushel.
CBOT July wheat gained 2 3/4 cents, or 0.6%, to $4.88 1/4 a bushel.
