Soybeans Rise on Bets Growers Won’t Shift Acres From Corn
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Soybean futures rose for the first time in four days on speculation that U.S. growers won’t swing acreage away from corn after rain slowed grain sowing.
Advances in seed technology, including “short-season” crops that grow faster than normal, will allow farmers to stick with corn, even if sowing is delayed, said Brian Hoops, the president of Midwest Market Solutions. Wet weather next week will “keep planting progress slow,” Telvent DTN, based in Omaha, Nebraska, said in a report.