Soybeans, corn rise in choppy trading on South American weather concerns
Live Mint* Soybeans, corn edge higher on dry South America weather * Strong US dollar pressures wheat * Thin post-holiday trade volume causes increased volatility By Renee Hickman CHICAGO, Jan 2 - Chicago soybean and corn futures were higher in see-saw trading on the first trading day of 2025, supported by ongoing concerns related to dry weather in South America, especially Argentina, a leading producer of both commodities. Soybeans and corn received support from limited rain and building heat forecast for southern Brazil and Argentina over the next few weeks, said Jim McCormick, co-founder of AgMarket.net. Wheat was pressured by a strong U.S. dollar despite some bitterly cold temperatures in the U.S. Plains on the horizon, which would normally add support, McCormick said. The U.S. dollar reached a two-year high, building on last year's gains with expectations that U.S. growth will beat that of its peers and the U.S. Federal Reserve will keep interest rates relatively elevated.