Grains firm as mid-day approaches
U.S. grain and soybean futures are trading higher Friday, as traders view the markets as oversold after recent declines.
The unifying theme across grain and soybean futures is profit-taking Friday, as traders book profits and reduce risk on prior bets that prices would decline.
Soybeans are also benefiting from firm cash market prices, as cash merchants have trouble sourcing available U.S. soybean stockpiles.
U.S. corn futures are trading higher Friday morning, snapping a 10-day losing streak, and wheat futures are bouncing higher, boosted by technical buying and positioning before a long weekend.
Chicago Board of Trade March soybeans are up two cents, or 0.1%, at $14.20 a bushel. March corn is up 3 1/2 cents, or 0.5%, at $6.98 1/2, and March wheat is up 8 3/4 cents, or 1.2%, at $7.40 3/4.
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(END) Dow Jones Newswires
February 15, 2013 10:54 ET (15:54 GMT)
DJ U.S. Grain, Soybean Futures Stay Firm in Open-Outcry Trade->copyright