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Soybeans May Be Next Market to Surge as U.S. Showers Drag On

  • Hedge funds are backing away from bearish soy wagers
  • Corn is heading for best quarterly advance since 2010
Operations During Corn And Soybean Harvests As New Nafta Secures Some Exports
Photographer: Daniel Acker/Bloomberg
Updated on

Corn prices have been on an epic run. Now, soybeans could soon be catching up.

With more rains forecast for the U.S. Midwest, oilseed plantings are under threat and hedge funds are backing away from their bearish wagers. Meanwhile, corn is heading for its best quarterly advance since 2010 and the funds are betting there’s more room to run, raising their net-bullish holdings to the highest in a year.