RIO DE JANEIRO, BRAZIL - Benchmark soybean futures traded in Chicago broke the $16/bushel mark for the first time since 2012 on Tuesday, May 11, as traders focused on tightening feed grain supplies and dry weather in Brazil's corn-producing areas.
Corn and wheat futures also posted strong gains, with short term contracts leading the way. The weaker dollar provided support, making U.S. grains more competitive globally.
The July soybean contract closed up 27.25 cents at $16.1475 per bushel after reaching a contract peak of $16.2550, the highest for the most active contract since September . . .
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