CBOT soybean, corn futures extend gains, supported by weather worries

June 16, according to media reports, U.S. soybean and corn futures extended their gains on Friday, as forecasts pointed to drier weather in parts of the Midwest crop belt, raising concerns about crop yields.

The monthly report released by the National Oilseed Processors Association (NOPA) showed that the soybean crush in the United States exceeded expectations in May, hitting a record high for the same period.

On June 15, local time, Russian President’s Press Secretary Peskov stated that in the case of the Black Sea port agricultural product export agreement, because some clauses in the agreement involving Russia have not yet been implemented, the Russian side does not see a positive prospect for the renewal of the agreement.