Soybeans, Soybean Oil Rocket Higher; Corn Corrects to Downside
Corn futures were firm early but succumbed to midday selling, so soybean and soy oil futures took the bullish lead Friday. World veg oil markets surged to big gains with June palm oil futures gapping higher and closing up for the fourth consecutive day. July canola futures scored a new contract high.
May corn closed down 4 1/2 cents per bushel, May soybeans closed up 15 cents, July KC wheat finished up 1 cent, July Chicago wheat closed down 1 1/4 cents and July Minneapolis wheat closed up 1/2 cent. The June U.S. Dollar Index is trading down 0.053 at 91.565. The Dow Jones Industrial Average is up 60.00 points at 31,068.69. June gold is up $12.20 at $1,779.00, May silver is up $0.11 at $26.08 and May copper is down $0.0515 at $4.1670. May crude oil is down $0.39 at $63.07, May heating oil is down $0.0056, May RBOB is down $0.0136 and May natural gas is up $0.024.