Soybeans near 1-week high on strong vegoil demand, wheat rises [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Wheat gained ground after closing largely unchanged on Tuesday, as tightening global supplies supported prices. Wish you could join a 'Squid Game'? Here's a safer plan to escape debt Advertisement “There is more upside potential in prices, given the gains in the crude oil market and overall consumption,” said Phin Ziebell, an agribusiness economist at National Australia Bank in Melbourne. Advertisement Article content The most-active soybean contract on the Chicago Board Of Trade (CBOT) added 0.1% at $12.29-3/4 a bushel by 0326 GMT, having firmed 0.5% on Tuesday when prices hit an Oct. 11 high of $12.39-1/4 a bushel. Wheat added 0.5% to $7.39-1/2 a bushel and corn lost 0.1% to $5.29-3/4 a bushel. Farmers need more space to grow crops to meet mounting demand for food and renewable fuel at a time of slowing growth in yields, consultancy AgResource said on Tuesday. A renewable fuel push under U.S. President Joe Biden's climate agenda is set to trigger a boom in soyoil
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