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Soybeans finish sharply higher

Updated: 03/15/2012 @ 1:30pm

DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market rallied and led all other commodities higher Thursday. 

The soybeans pushed higher off of the bullishness of lower global production, a lower U.S. Dollar and expected less U.S. soybean acreage.

The July soybean futures settled 10 1/4 cents higher at $6.69. The July soybean contract closed 18 cents higher at $13.69. The July wheat futures finished 21 cents higher at $6.64.  The July soymeal futures settled $4.20 per short ton higher at $371.40. The July soyoil futures closed $0.68 higher at $55.48.
In the outside markets, the NYMEX crude oil is $0.52 per barrel lower, the dollar is lower and the Dow Jones Industrials are up 35 points.

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